ITM Power Plc (LON:ITM) Insider Simon Bourne Buys 60,126 Shares of Stock

ITM Power Plc (LON:ITM) insider Simon Bourne purchased 60,126 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of GBX 42 ($0.54) per share, with a total value of £25,252.92 ($32,749.22).

ITM Power Stock Performance

ITM stock opened at GBX 42 ($0.54) on Friday. The company has a 50 day moving average price of GBX 47.13 and a 200 day moving average price of GBX 51.20. ITM Power Plc has a fifty-two week low of GBX 37.16 ($0.48) and a fifty-two week high of GBX 71.80 ($0.93). The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56. The stock has a market capitalization of £259.01 million, a PE ratio of -1,054.50 and a beta of 2.03.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ITM. JPMorgan Chase & Co. cut ITM Power to a “neutral” rating and decreased their target price for the stock from GBX 130 ($1.69) to GBX 90 ($1.17) in a report on Tuesday, July 9th. Berenberg Bank decreased their price objective on shares of ITM Power from GBX 60 ($0.78) to GBX 59 ($0.77) and set a “hold” rating on the stock in a report on Thursday, August 15th.

ITM Power Company Profile

ITM Power Plc designs and manufactures proton exchange membrane (PEM) electrolysers in the United Kingdom, Germany, Australia, rest of Europe, and the United States. The company’s product portfolio comprises TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a 20 MW electrolysis process module for large-scale projects.