ITM Power (LON:ITM) Share Price Passes Below Two Hundred Day Moving Average of $89.57

Shares of ITM Power Plc (LON:ITM – Get Rating) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 89.57 ($1.11) and traded as low as GBX 68.50 ($0.85). ITM Power shares last traded at GBX 71.42 ($0.89), with a volume of 1,545,259 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Peel Hunt reiterated a “buy” rating and issued a GBX 200 ($2.49) target price on shares of ITM Power in a research note on Tuesday, March 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a GBX 260 ($3.23) target price on shares of ITM Power in a research note on Wednesday, February 1st. Finally, Berenberg Bank reiterated a “sell” rating and issued a GBX 100 ($1.24) target price on shares of ITM Power in a research note on Wednesday, February 1st. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 290 ($3.61).

ITM Power Stock Performance

The company has a market cap of £427.34 million, a PE ratio of -510.14 and a beta of 1.85. The firm’s fifty day moving average is GBX 77.42 and its 200 day moving average is GBX 89.57. The company has a current ratio of 5.66, a quick ratio of 7.56 and a debt-to-equity ratio of 2.07.

Insider Buying and Selling

In other ITM Power news, insider Simon Bourne bought 19,901 shares of the company’s stock in a transaction dated Friday, March 24th. The stock was acquired at an average price of GBX 75 ($0.93) per share, with a total value of £14,925.75 ($18,564.37). In the last quarter, insiders purchased 20,292 shares of company stock valued at $1,522,664. 31.62% of the stock is owned by corporate insiders.

ITM Power Company Profile

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ITM Power Plc designs, manufactures, and sells hydrogen energy systems for energy storage, transportation, and industrial sectors in the United Kingdom, Germany, Australia, rest of Europe, and the United States. It offers HGas1SP, HGas3SP, 3MEP CUBE, and 2GEP Skid. The company is also involved in the development and manufacture of prototype products; and sale of electrolysis equipment, automotive fuel, hydrogen, electrolyser solutions, and hydrogen storage solutions.