ITM Power (LON:ITM) Earns “Buy” Rating from Jefferies Financial Group

Jefferies Financial Group reissued their buy rating on shares of ITM Power (LON:ITM) in a research report released on Friday morning, Marketbeat reports. Jefferies Financial Group currently has a GBX 60 ($0.76) price target on the stock.

Several other research firms have also weighed in on ITM. Royal Bank of Canada restated an “outperform” rating and set a GBX 70 ($0.89) price objective on shares of ITM Power in a research report on Friday. Berenberg Bank restated a “hold” rating and set a GBX 59 ($0.75) price objective on shares of ITM Power in a research report on Thursday.

ITM Power Stock Performance

LON:ITM opened at GBX 35.88 ($0.46) on Friday. ITM Power has a twelve month low of GBX 32.20 ($0.41) and a twelve month high of GBX 71.80 ($0.92). The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73. The company has a 50-day moving average of GBX 40.66 and a 200-day moving average of GBX 48.41. The firm has a market cap of £221.26 million, a price-to-earnings ratio of -897.00 and a beta of 2.03.

Insiders Place Their Bets

In other news, insider Andy Allen bought 658 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was bought at an average cost of GBX 46 ($0.59) per share, for a total transaction of £302.68 ($385.87). Also, insider Simon Bourne purchased 60,126 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of GBX 42 ($0.54) per share, with a total value of £25,252.92 ($32,193.93). Insiders bought a total of 61,497 shares of company stock worth $2,585,637 over the last ninety days. 48.26% of the stock is currently 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.