ITM Power (LON:ITM) Stock Price Up 19.7% - Time to Buy?

ITM Power Plc (LON:ITM - Get Free Report)'s stock price was up 19.7% on Monday . The stock traded as high as GBX 42.85 ($0.57) and last traded at GBX 42.85 ($0.57). Approximately 10,742,647 shares changed hands during trading, an increase of 175% from the average daily volume of 3,907,366 shares. The stock had previously closed at GBX 35.80 ($0.48).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reissued a "hold" rating and set a GBX 59 ($0.78) price target on shares of ITM Power in a report on Thursday, May 8th.

ITM Power Stock Down 1.7%

The company has a market cap of £269.50 million, a price-to-earnings ratio of -9.89 and a beta of 2.03. The business has a fifty day moving average of GBX 30.33 and a two-hundred day moving average of GBX 33.60. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73.

Insider Activity

In other news, insider Amy Grey acquired 102,455 shares of the business's stock in a transaction on Friday, February 28th. The stock was bought at an average cost of GBX 29 ($0.39) per share, for a total transaction of £29,711.95 ($39,468.58). Insiders acquired 103,503 shares of company stock worth $3,001,059 over the last three months. 48.26% of the stock is currently owned by corporate insiders.

About ITM Power

ITM Power was founded in 2000, and ITM Power PLC was admitted to the London Stock Exchange's AIM market in 2004. Headquartered in Sheffield, England, ITM Power designs and manufactures electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.