Insider Buying: ITM Power (LON:ITM) Insider Acquires £149.42 in Stock

ITM Power Plc (LON:ITM) insider Simon Bourne purchased 241 shares of the stock in a transaction that occurred on Monday, February 16th. The stock was acquired at an average cost of GBX 62 per share, for a total transaction of £149.42.

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

• On Thursday, January 15th, Simon Bourne acquired 227 shares of ITM Power stock. The shares were purchased at an average price of GBX 66 per share, with a total value of £149.82.
• On Tuesday, December 16th, Simon Bourne bought 466 shares of ITM Power stock. The stock was purchased at an average price of GBX 64 per share, for a total transaction of £298.24.

ITM Power Price Performance

Shares of ITM Power stock opened at GBX 64.50 on Friday. The stock has a 50 day moving average of GBX 64.11 and a 200 day moving average of GBX 69.84. ITM Power Plc has a 12 month low of GBX 25.08 and a 12 month high of GBX 98.45. The firm has a market cap of £397.43 million, a PE ratio of -12.90 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) last issued its quarterly earnings data on Thursday, January 29th. The company reported GBX (2.30) earnings per share (EPS) for the quarter. ITM Power had a negative return on equity of 9.97% and a negative net margin of 164.90%. On average, research analysts expect that ITM Power Plc will post -8.9214682 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ITM has been the subject of several research reports. Berenberg Bank reiterated a “buy” rating and set a GBX 100 price objective on shares of ITM Power in a research report on Thursday, January 29th. UBS Group reaffirmed a “neutral” rating and issued a GBX 60 price target on shares of ITM Power in a report on Friday, January 16th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, ITM Power currently has a consensus rating of “Moderate Buy” and an average price target of GBX 91.67.

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.