ITM Power (LON:ITM) Stock Price Up 8.7% - Should You Buy?
ITM Power's stock price increased by 8.7% during mid-day trading, reaching GBX 68.20 before closing at GBX 65.04. The trading volume surged by 46% compared to the average. Analysts have mixed views, with JPMorgan maintaining a "neutral" rating, while Berenberg upgraded the stock to "buy" with a new price target of GBX 100. The company has a market cap of £405.33 million and a PE ratio of -14.88. Despite the positive movement, ITM Power is not among the top recommended stocks by leading analysts.
Shares of ITM Power Plc (LON:ITM - Get Free Report) rose 8.7% during mid-day trading on Monday . The stock traded as high as GBX 68.20 ($0.91) and last traded at GBX 65.04 ($0.86). Approximately 6,723,836 shares were traded during mid-day trading, an increase of 46% from the average daily volume of 4,617,773 shares. The stock had previously closed at GBX 59.82 ($0.80).
Analyst Upgrades and Downgrades
ITM has been the topic of several research reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of ITM Power in a report on Monday, July 28th. Berenberg Bank upgraded ITM Power to a "buy" rating and lifted their price target for the stock from GBX 59 ($0.78) to GBX 100 ($1.33) in a research report on Friday.
Get Our Latest Report on ITM Power
ITM Power Trading Up 8.7%
The company has a market cap of £405.33 million, a PE ratio of -14.88 and a beta of 2.03. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56. The company has a 50-day moving average of GBX 72.78 and a 200 day moving average of GBX 46.54.
About ITM Power
(Get Free Report)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.
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