ITM Power (LON:ITM) Shares Up 18.4% – Still a Buy?

ITM Power Plc (LON:ITMGet Free Report) shares shot up 18.4% on Saturday . The stock traded as high as GBX 75.20 ($1.02) and last traded at GBX 72.70 ($0.98). 13,991,459 shares traded hands during mid-day trading, an increase of 203% from the average session volume of 4,618,578 shares. The stock had previously closed at GBX 61.40 ($0.83).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a “hold” rating and set a GBX 59 ($0.80) target price on shares of ITM Power in a research report on Thursday, May 8th.

Get Our Latest Research Report on ITM Power

ITM Power Trading Up 5.9%

The firm has a market capitalization of £479.56 million, a PE ratio of -17.60 and a beta of 2.03. The firm’s fifty day moving average is GBX 39.05 and its two-hundred day moving average is GBX 35.29. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.

ITM Power Company Profile

(Get Free Report)

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.

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