Insider Buying: ITM Power (LON:ITM) Insider Buys 134 Shares

ITM Power Plc (LON:ITM) insider Dennis Schulz acquired 134 shares of the company’s stock in a transaction dated Wednesday, July 15th. The shares were purchased at an average cost of GBX 112 per share, with a total value of £150.08.

Dennis Schulz also recently made the following trade(s):

• On Friday, May 15th, Dennis Schulz bought 92 shares of ITM Power stock. The stock was acquired at an average cost of GBX 162 per share, for a total transaction of £149.04.

ITM Power Stock Down 4.2%

LON ITM opened at GBX 100.40 on Friday. The stock’s 50 day simple moving average is GBX 142.95 and its 200 day simple moving average is GBX 100.20. ITM Power Plc has a one year low of GBX 56.80 and a one year high of GBX 219.80. The firm has a market cap of £692.96 million, a PE ratio of -20.08 and a beta of 2.89. The company has a debt-to-equity ratio of 6.99, a current ratio of 2.62 and a quick ratio of 7.56.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Berenberg Bank raised their target price on ITM Power from GBX 100 to GBX 110 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Jefferies Financial Group raised shares of ITM Power to a “buy” rating and increased their price objective for the stock from £115 to £200 in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, ITM Power has an average rating of “Moderate Buy” and a consensus target price of GBX 6,723.33.

About ITM Power

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants.

With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.

Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.