UBS Group Reaffirms Neutral Rating for ITM Power (LON:ITM)

ITM Power (LON:ITM)‘s stock had its “neutral” rating restated by research analysts at UBS Group in a research note issued on Friday, MarketBeat reports. They presently have a GBX 60 price objective on the stock. UBS Group’s target price would suggest a potential downside of 8.54% from the stock’s current price.

Several other research analysts have also commented on the stock. Jefferies Financial Group lifted their price target on shares of ITM Power from GBX 60 to GBX 115 and gave the company a “buy” rating in a report on Wednesday, October 1st. Berenberg Bank restated a “buy” rating and issued a GBX 100 target price 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 two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 91.67.

ITM Power Trading Down 0.6%

Shares of ITM opened at GBX 65.61 on Friday. ITM Power has a one year low of GBX 25.08 and a one year high of GBX 98.45. The stock has a 50-day moving average price of GBX 68.01 and a 200 day moving average price of GBX 71.59. 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 market capitalization of £404.24 million, a P/E ratio of -8.87 and a beta of 2.03.

Insider Activity

In other ITM Power news, insider Simon Bourne purchased 466 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were purchased at an average price of GBX 64 per share, for a total transaction of £298.24. Also, insider Dennis Schulz bought 466 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were bought at an average cost of GBX 64 per share, for a total transaction of £298.24. In the last 90 days, insiders have bought 1,338 shares of company stock valued at $89,692. 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.