ITM Power’s (ITM) “Neutral” Rating Reaffirmed at UBS Group

UBS Group reaffirmed their neutral rating on shares of ITM Power (LON:ITM) in a report issued on Friday, MarketBeat reports. The brokerage currently has a GBX 60 target price on the stock.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group boosted their price target on ITM Power from GBX 60 to GBX 115 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Berenberg Bank reiterated a “buy” rating and set a GBX 100 target price on shares of ITM Power in a report on Thursday, December 4th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 91.67.

ITM Power Stock Down 0.6%

Shares of LON ITM opened at GBX 65.61 on Friday. The stock has a market capitalization of £404.24 million, a PE ratio of -8.87 and a beta of 2.03. The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73. The firm has a fifty day moving average of GBX 68.01 and a 200-day moving average of GBX 71.65. ITM Power has a 52-week low of GBX 25.08 and a 52-week high of GBX 98.45.

Insider Transactions at ITM Power

In related news, insider Dennis Schulz bought 466 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average cost of GBX 64 per share, for a total transaction of £298.24. Also, insider Simon Bourne purchased 466 shares of ITM Power stock in a transaction that occurred on Tuesday, December 16th. The shares were bought at an average cost of GBX 64 per share, for a total transaction of £298.24. In the last quarter, insiders bought 1,338 shares of company stock valued at $89,692. Insiders own 8.73% of the company’s stock.

ITM Power Company Profile

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.