ITM Power (LON:ITM) Trading Up 8.2% - Here's What Happened

Shares of ITM Power Plc (LON:ITM - Get Free Report) were up 8.2% on Tuesday . The stock traded as high as GBX 35 ($0.47) and last traded at GBX 31.23 ($0.42). Approximately 9,660,370 shares traded hands during mid-day trading, an increase of 143% from the average daily volume of 3,982,744 shares. The stock had previously closed at GBX 28.85 ($0.38).

ITM Power Stock Up 5.0 %

The firm has a 50 day simple moving average of GBX 28.65 and a two-hundred day simple moving average of GBX 34.15. The company has a market capitalization of £202.22 million, a PE ratio of -7.42 and a beta of 2.03. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73.

ITM Power (LON:ITM - Get Free Report) last announced its earnings results on Friday, January 31st. The company reported GBX (4.70) (($0.06)) earnings per share for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. Research analysts expect that ITM Power Plc will post -8.9214682 EPS for the current year.

Insider Buying and Selling at ITM Power

In other ITM Power news, insider Amy Grey purchased 102,455 shares of ITM Power stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of GBX 29 ($0.39) per share, with a total value of £29,711.95 ($39,515.83). In the last ninety days, insiders have purchased 103,937 shares of company stock worth $3,016,249. 48.26% of the stock is currently owned by 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.