ITM Power (LON:ITM) Insider Acquires £298.24 in Stock

ITM Power Plc (LON:ITM) insider Dennis Schulz purchased 466 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was acquired at an average price of GBX 64 per share, for a total transaction of £298.24.

Dennis Schulz also recently made the following trade(s):

• On Friday, November 14th, Dennis Schulz purchased 203 shares of ITM Power stock. The stock was bought at an average price of GBX 74 per share, for a total transaction of £150.22.
• On Wednesday, October 15th, Dennis Schulz acquired 177 shares of ITM Power stock. The shares were bought at an average price of GBX 85 per share, with a total value of £150.45.

ITM Power Stock Down 0.7%

Shares of ITM traded down GBX 0.47 on Wednesday, reaching GBX 62.83. The company’s stock had a trading volume of 1,119,363 shares, compared to its average volume of 4,085,212. The firm has a fifty day moving average of GBX 75.80 and a 200-day moving average of GBX 73.47. 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 Plc has a twelve month low of GBX 25.08 and a twelve month high of GBX 98.45. The stock has a market capitalization of £387.13 million, a PE ratio of -8.49 and a beta of 2.03.

Wall Street Analyst Weigh In

Several brokerages have commented on ITM. Berenberg Bank restated a “buy” rating and issued a GBX 100 price objective on shares of ITM Power in a report on Thursday, December 4th. 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 report on Wednesday, October 1st. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, ITM Power presently has a consensus rating of “Moderate Buy” and an average price target of GBX 107.50.

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.