ITM Power (LON:ITM) Reaches New 12-Month Low – Here’s Why

ITM Power Plc (LON:ITM) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as GBX 31.06 ($0.39) and last traded at GBX 32.28 ($0.41), with a volume of 3346483 shares changing hands. The stock had previously closed at GBX 32.86 ($0.42).

Analyst Ratings Changes

A number of equities analysts have issued reports on ITM shares. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 59 ($0.75) target price on shares of ITM Power in a research report on Thursday, December 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a GBX 70 ($0.88) target price on shares of ITM Power in a research report on Friday, December 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 60 ($0.76) target price on shares of ITM Power in a research report on Friday, December 6th.

ITM Power Stock Down 1.8 %

The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17. The firm has a market capitalization of £201.18 million, a P/E ratio of -7.39 and a beta of 2.03. The stock has a fifty day moving average price of GBX 35.53 and a two-hundred day moving average price of GBX 41.28.

ITM Power (LON:ITM) last issued its quarterly earnings results on Friday, January 31st. The company reported GBX (4.70) (($0.06)) earnings per share for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. Research analysts forecast that ITM Power Plc will post -8.9214682 EPS for the current year.

Insider Activity

In related news, insider Simon Bourne acquired 792 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was purchased at an average cost of GBX 38 ($0.48) per share, for a total transaction of £300.96 ($380.24). In the last ninety days, insiders bought 1,634 shares of company stock worth $60,382. 48.26% of the stock is currently owned by insiders.

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.