Simon Bourne Purchases 203 Shares of ITM Power (LON:ITM) Stock

Key Points

• Insider buying: Director Simon Bourne bought 203 shares of ITM Power on Nov. 14 at GBX 74 and has made three small purchases this year totalling 615 shares, signalling continued insider accumulation.
• Market sentiment vs. price action: Shares slipped 2.1% to GBX 75.81 on light volume, while analysts hold a "Moderate Buy" consensus with an average target of GBX 95 (Jefferies recently raised its target to GBX 115).
• Financials — loss-making but liquid: ITM Power reported quarterly EPS of GBX (7.40) and analysts expect ~GBX (8.92) for the year, showing negative margins and ROE, though the company has strong liquidity ratios (current 4.17, quick 7.56) alongside a high debt-to-equity of 4.73.

ITM Power Plc (LON:ITM - Get Free Report) insider Simon Bourne acquired 203 shares of the firm's stock in a transaction on Friday, November 14th. The stock was acquired at an average cost of GBX 74 per share, with a total value of £150.22.

Simon Bourne also recently made the following trade(s):

• On Wednesday, October 15th, Simon Bourne purchased 177 shares of ITM Power stock. The shares were purchased at an average cost of GBX 85 per share, with a total value of £150.45.
• On Monday, September 15th, Simon Bourne bought 235 shares of ITM Power stock. The stock was purchased at an average price of GBX 64 per share, with a total value of £150.40.

ITM Power Trading Down 2.1%

Shares of ITM Power stock traded down GBX 1.59 on Monday, reaching GBX 75.81. 556,174 shares of the company were exchanged, compared to its average volume of 4,171,982. ITM Power Plc has a fifty-two week low of GBX 25.08 and a fifty-two week high of GBX 98.45. The stock has a fifty day moving average price of GBX 76.67 and a 200-day moving average price of GBX 69.19. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73. The firm has a market capitalization of £467.12 million, a price-to-earnings ratio of -10.24 and a beta of 2.03.

ITM Power (LON:ITM - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported GBX (7.40) 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%. On average, analysts expect that ITM Power Plc will post -8.9214682 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ITM. Jefferies Financial Group upped their target price on ITM Power from GBX 60 to GBX 115 and gave the stock a "buy" rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of ITM Power in a research note on Monday, July 28th. Finally, Berenberg Bank restated a "buy" rating and issued a GBX 100 target price on shares of ITM Power in a research note on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of GBX 95.

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.

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