ITM Power (LON:ITM) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

ITM Power Plc (LON:ITM)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 50.90 ($0.66) and traded as low as GBX 39.40 ($0.51). ITM Power shares last traded at GBX 39.50 ($0.51), with a volume of 2,159,088 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank decreased their target price on ITM Power from GBX 60 ($0.78) to GBX 59 ($0.77) and set a “hold” rating for the company in a research note on Thursday, August 15th.

ITM Power Stock Performance

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 firm has a market capitalization of £256.05 million, a P/E ratio of -987.50 and a beta of 2.03. The company’s 50 day moving average is GBX 46.10 and its 200-day moving average is GBX 50.82.

Insider Transactions at ITM Power

In other news, insider Andy Allen purchased 658 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were acquired at an average cost of GBX 46 ($0.60) per share, with a total value of £302.68 ($394.01). In other ITM Power news, insider Simon Bourne acquired 60,126 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of GBX 42 ($0.55) per share, with a total value of £25,252.92 ($32,872.85). Also, insider Andy Allen bought 658 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were acquired at an average cost of GBX 46 ($0.60) per share, with a total value of £302.68 ($394.01). Insiders have purchased 61,610 shares of company stock valued at $2,600,696 in the last 90 days. 48.26% of the stock is currently owned by corporate 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.