Insider Buying: ITM Power (LON:ITM) Insider Buys £298.24 in Stock

ITM Power Plc (LON:ITM) insider Simon Bourne acquired 466 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was bought at an average cost of GBX 64 per share, with a total value of £298.24.

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

• On Friday, November 14th, Simon Bourne bought 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, Simon Bourne bought 177 shares of ITM Power stock. The shares were bought at an average cost of GBX 85 per share, for a total transaction of £150.45.

ITM Power Stock Down 1.5%

Shares of LON:ITM opened at GBX 64.70 on Friday. ITM Power Plc has a 52-week low of GBX 25.08 and a 52-week high of GBX 98.45. The company has a market capitalization of £398.66 million, a PE ratio of -8.74 and a beta of 2.03. The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17. The company has a fifty day moving average of GBX 74.63 and a 200-day moving average of GBX 73.35.

Analyst Upgrades and Downgrades

ITM has been the subject of several research reports. Jefferies Financial Group increased their target price 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 reaffirmed a “buy” rating and issued a GBX 100 price objective on shares of ITM Power in a research note on Thursday, December 4th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, ITM Power has an average rating of “Moderate Buy” and a consensus target price of GBX 107.50.

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.