ITM Power (LON:ITM) Reaches New 1-Year Low – Here’s What Happened

ITM Power Plc (LON:ITM) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 35 ($0.45) and last traded at GBX 35.26 ($0.45), with a volume of 5662544 shares trading hands. The stock had previously closed at GBX 37.72 ($0.49).

Analysts Set New Price Targets

Separately, Berenberg Bank lowered their target price on shares of ITM Power from GBX 60 ($0.77) to GBX 59 ($0.76) and set a “hold” rating for the company in a research note on Thursday, August 15th.

ITM Power Price Performance

The stock has a market capitalization of £217.44 million, a PE ratio of -943.00 and a beta of 2.03. The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73. The stock’s 50 day moving average price is GBX 45.30 and its 200-day moving average price is GBX 50.50.

Insider Buying and Selling

In other ITM Power news, insider Simon Bourne acquired 60,126 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of GBX 42 ($0.54) per share, with a total value of £25,252.92 ($32,496.36). In other news, insider Simon Bourne bought 60,126 shares of ITM Power stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of GBX 42 ($0.54) per share, for a total transaction of £25,252.92 ($32,496.36). Also, insider Andy Allen bought 658 shares of ITM Power stock in a transaction on Tuesday, October 15th. The stock was purchased at an average price of GBX 46 ($0.59) per share, with a total value of £302.68 ($389.50). Insiders acquired a total of 61,092 shares of company stock valued at $2,570,652 over the last three months. 48.26% of the stock is owned by company insiders.

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.