Simon Bourne Buys 466 Shares of ITM Power (LON:ITM) Stock

ITM Power Plc (LON:ITM) insider Simon Bourne purchased 466 shares of ITM Power stock in a transaction that occurred on Tuesday, December 16th. The stock was acquired 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 acquired 203 shares of ITM Power stock. The stock was acquired at an average cost of GBX 74 per share, for a total transaction of £150.22.
• On Wednesday, October 15th, Simon Bourne acquired 177 shares of ITM Power stock. The stock was acquired at an average price of GBX 85 per share, with a total value of £150.45.

ITM Power Price Performance

Shares of LON ITM opened at GBX 65.70 on Friday. 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 firm has a fifty day moving average of GBX 75.04 and a 200 day moving average of GBX 73.34. The firm has a market cap of £404.82 million, a PE ratio of -8.88 and a beta of 2.03. ITM Power Plc has a one year low of GBX 25.08 and a one year high of GBX 98.45.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Berenberg Bank reissued a “buy” rating and set a GBX 100 target price on shares of ITM Power in a report on Thursday, December 4th. Jefferies Financial Group raised their price objective 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.