ITM Power (LON:ITM) Given New GBX 59 Price Target at Berenberg Bank

ITM Power (LON:ITM) had its target price reduced by Berenberg Bank from GBX 60 ($0.77) to GBX 59 ($0.75) in a research report released on Thursday, MarketBeat reports. They currently have a hold rating on the stock.

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

ITM Power Stock Performance

ITM stock opened at GBX 51.60 ($0.66) on Thursday. The company has a debt-to-equity ratio of 2.62, a current ratio of 4.45 and a quick ratio of 7.56. The business has a 50-day moving average price of GBX 52.77 and a 200 day moving average price of GBX 54.48. The company has a market capitalization of £318.56 million, a P/E ratio of -516.00 and a beta of 2.07. ITM Power has a 1-year low of GBX 42.90 ($0.55) and a 1-year high of GBX 94 ($1.20).

Insiders Place Their Bets

In other news, insider Dennis Schulz bought 518 shares of ITM Power stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of GBX 58 ($0.74) per share, for a total transaction of £300.44 ($383.61). Over the last ninety days, insiders bought 1,044 shares of company stock worth $60,118. 35.44% of the stock is owned by corporate 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. 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.