ITM Power (LON:ITM) Trading Down 6.3% – Here’s What Happened

ITM Power Plc (LON:ITMGet Free Report)’s share price fell 6.3% on Friday . The stock traded as low as GBX 73 ($0.99) and last traded at GBX 73.20 ($0.99). 4,206,881 shares traded hands during trading, a decline of 10% from the average session volume of 4,699,091 shares. The stock had previously closed at GBX 78.10 ($1.06).

Wall Street Analyst Weigh In

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

Get Our Latest Stock Report on ITM

ITM Power Stock Performance

The firm has a fifty day moving average price of GBX 43.91 and a 200 day moving average price of GBX 36.73. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73. The firm has a market cap of £452.42 million, a PE ratio of -16.61 and a beta of 2.03.

About ITM Power

(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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