ITM Power (LON:ITM) Sets New 12-Month Low – Time to Sell?

Shares of ITM Power Plc (LON:ITM) reached a new 52-week low on Tuesday . The stock traded as low as GBX 37.16 ($0.48) and last traded at GBX 39.13 ($0.51), with a volume of 3370823 shares. The stock had previously closed at GBX 40.34 ($0.52).

Analyst Ratings Changes

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

ITM Power Stock Performance

The firm has a market cap of £241.33 million, a P/E ratio of -955.00 and a beta of 2.03. The stock’s 50 day moving average is GBX 47.55 and its two-hundred day moving average is GBX 51.35. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.

Insider Buying and Selling at ITM Power

In other news, insider Dennis Schulz bought 518 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of GBX 58 ($0.75) per share, with a total value of £300.44 ($389.63). In related news, insider Dennis Schulz acquired 518 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of GBX 58 ($0.75) per share, for a total transaction of £300.44 ($389.63). Also, insider Andy Allen bought 658 shares of the stock in a transaction dated Tuesday, October 15th. The shares were acquired at an average cost of GBX 46 ($0.60) per share, for a total transaction of £302.68 ($392.53). Over the last quarter, insiders have purchased 1,484 shares of company stock valued at $75,404. 48.26% of the stock is currently owned by company insiders.

About ITM Power

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.