ITM Power (LON:ITM) Stock Passes Below 200 Day Moving Average – Here’s What Happened

ITM Power Plc (LON:ITM) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 69.79 and traded as low as GBX 60.30. ITM Power shares last traded at GBX 63.90, with a volume of 1,446,401 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Berenberg Bank restated a “buy” rating and issued a GBX 100 price objective on shares of ITM Power in a research note 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of GBX 91.67.

ITM Power Price Performance

The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56. The firm has a market cap of £400.61 million, a P/E ratio of -13.00 and a beta of 2.03. The firm’s 50 day moving average is GBX 64.05 and its 200 day moving average is GBX 69.79.

ITM Power (LON:ITM) last released 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 net margin of 164.90% and a negative return on equity of 9.97%. As a group, analysts anticipate that ITM Power Plc will post -8.9214682 earnings per share for the current year.

Insider Buying and Selling at ITM Power

In related news, insider Dennis Schulz acquired 466 shares of the firm’s stock in a transaction 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 acquired 466 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average price of GBX 64 per share, with a total value of £298.24. Insiders bought 1,868 shares of company stock worth $119,496 in the last three months. Insiders own 8.73% of the company’s stock.

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.