ITM Power (LON:ITM) Trading Down 6.4%

ITM Power Plc (LON:ITM) shares were down 6.4% during mid-day trading on Thursday . The company traded as low as GBX 53.95 ($0.69) and last traded at GBX 54.45 ($0.70). Approximately 6,271,225 shares were traded during mid-day trading, an increase of 155% from the average daily volume of 2,458,249 shares. The stock had previously closed at GBX 58.15 ($0.74).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. downgraded ITM Power to a “neutral” rating and decreased their price objective for the stock from GBX 130 ($1.66) to GBX 90 ($1.15) in a report on Tuesday, July 9th.

ITM Power Stock Down 6.4 %

The company’s 50-day simple moving average is GBX 52.97 and its two-hundred day simple moving average is GBX 54.43. The firm has a market capitalization of £336.16 million, a P/E ratio of -544.50 and a beta of 2.07. The company has a debt-to-equity ratio of 2.62, a current ratio of 4.45 and a quick ratio of 7.56.

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. Its product portfolio includes TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a cutting-edge 20 MW module for large-scale projects.