Insider Buying: ITM Power Plc (LON:ITM) Insider Purchases £300.96 in Stock

ITM Power Plc (LON:ITM) insider Simon Bourne bought 792 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were purchased at an average cost of GBX 38 ($0.46) per share, for a total transaction of £300.96 ($366.04).

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

• On Friday, December 13th, Simon Bourne bought 408 shares of ITM Power stock. The stock was purchased at an average cost of GBX 37 ($0.45) per share, for a total transaction of £150.96 ($183.60).
• On Friday, November 15th, Simon Bourne bought 405 shares of ITM Power stock. The shares were acquired at an average cost of GBX 37 ($0.45) per share, for a total transaction of £149.85 ($182.25).
• On Wednesday, October 30th, Simon Bourne acquired 60,126 shares of ITM Power stock. The shares were purchased at an average cost of GBX 42 ($0.51) per share, with a total value of £25,252.92 ($30,713.84).

ITM Power Trading Up 2.6 %

Shares of ITM opened at GBX 36.42 ($0.44) on Monday. The stock has a 50 day simple moving average of GBX 35.93 and a 200-day simple moving average of GBX 44.74. ITM Power Plc has a 1 year low of GBX 32.20 ($0.39) and a 1 year high of GBX 71.80 ($0.87). The stock has a market cap of £224.59 million, a PE ratio of -910.50 and a beta of 2.03. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73.

Wall Street Analyst Weigh In

ITM has been the subject of a number of analyst reports. Jefferies Financial Group restated a “buy” rating and issued a GBX 60 ($0.73) price objective on shares of ITM Power in a research note on Friday, December 6th. Royal Bank of Canada reissued an “outperform” rating and issued a GBX 70 ($0.85) price target on shares of ITM Power in a report on Friday, December 6th. Finally, Berenberg Bank reiterated a “hold” rating and issued a GBX 59 ($0.72) target price on shares of ITM Power in a research note on Thursday, December 5th.

About ITM Power

ITM Power was founded in 2000, and ITM Power PLC was admitted to the London Stock Exchange’s AIM market in 2004.

Headquartered in Sheffield, England, ITM Power designs and manufactures electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.