ITM Power (LON:ITM) Shares Up 9.6% – What’s Next?

Posted by Doug Wharley on Jan 30th, 2025

ITM Power Plc (LON:ITM – Get Free Report)’s share price shot up 9.6% during trading on Thursday . The stock traded as high as GBX 38.52 ($0.48) and last traded at GBX 38.40 ($0.48). 2,166,149 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 2,535,910 shares. The stock had previously closed at GBX 35.04 ($0.44).

Analyst Upgrades and Downgrades

Several research firms have issued reports on ITM. Jefferies Financial Group restated a “buy” rating and set a GBX 60 ($0.75) price objective on shares of ITM Power in a report on Friday, December 6th. Royal Bank of Canada restated an “outperform” rating and set a GBX 70 ($0.87) price objective on shares of ITM Power in a report on Friday, December 6th. Finally, Berenberg Bank restated a “hold” rating and set a GBX 59 ($0.73) price objective on shares of ITM Power in a report on Thursday, December 5th.

Check Out Our Latest Report on ITM Power

ITM Power Trading Up 11.4 %

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 company has a 50 day simple moving average of GBX 35.60 and a two-hundred day simple moving average of GBX 43.58. The company has a market cap of £240.63 million, a PE ratio of -975.50 and a beta of 2.03.

Insider Buying and Selling at ITM Power

In other ITM Power news, insider Simon Bourne bought 792 shares of the stock in a transaction on Wednesday, January 15th. The shares were bought at an average price of GBX 38 ($0.47) per share, with a total value of £300.96 ($374.70). Insiders have acquired a total of 1,605 shares of company stock valued at $60,177 in the last 90 days. 48.26% of the stock is currently owned by corporate insiders.

ITM Power Company Profile

(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.