ITM Power (LON:ITM) Insider Simon Bourne Acquires 134 Shares

ITM Power Plc (LON:ITM) insider Simon Bourne bought 134 shares of the business’s stock in a transaction that occurred on Wednesday, July 15th. The stock was acquired at an average cost of GBX 112 per share, for a total transaction of £150.08.

Simon Bourne also recently made the following trade(s):

• On Tuesday, June 16th, Simon Bourne purchased 113 shares of ITM Power stock. The shares were acquired at an average cost of GBX 133 per share, with a total value of £150.29.
• On Friday, May 15th, Simon Bourne purchased 92 shares of ITM Power stock. The shares were acquired at an average cost of GBX 162 per share, with a total value of £149.04.

ITM Power Trading Down 4.2%

LON ITM opened at GBX 100.40 on Friday. ITM Power Plc has a fifty-two week low of GBX 56.80 and a fifty-two week high of GBX 219.80. The company has a debt-to-equity ratio of 6.99, a quick ratio of 7.56 and a current ratio of 2.62. The stock has a 50 day simple moving average of GBX 142.95 and a two-hundred day simple moving average of GBX 100.20. The stock has a market cap of £692.96 million, a P/E ratio of -20.08 and a beta of 2.89.

Wall Street Analyst Weigh In

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