Shares of ITM Power Plc (LON:ITM – Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as GBX 40.02 ($0.52) and last traded at GBX 40.52 ($0.53), with a volume of 1576917 shares trading hands. The stock had previously closed at GBX 40.28 ($0.52).
Analysts Set New Price Targets
A number of equities research analysts have issued reports on ITM shares. Berenberg Bank cut their price target on ITM Power from GBX 60 ($0.78) to GBX 59 ($0.77) and set a “hold” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. cut ITM Power to a “neutral” rating and lowered their price target for the stock from GBX 130 ($1.69) to GBX 90 ($1.17) in a report on Tuesday, July 9th.
View Our Latest Analysis on ITM Power
ITM Power Price Performance
Insider Buying and Selling at ITM Power
In related news, insider Dennis Schulz purchased 518 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of GBX 58 ($0.75) per share, for a total transaction of £300.44 ($390.08). In other ITM Power news, insider Dennis Schulz acquired 518 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were bought at an average price of GBX 58 ($0.75) per share, with a total value of £300.44 ($390.08). Also, insider Andy Allen acquired 658 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were bought at an average price of GBX 46 ($0.60) per share, with a total value of £302.68 ($392.99). Insiders have purchased a total of 1,484 shares of company stock worth $75,404 over the last ninety days. Company insiders own 48.26% of the company’s stock.
About ITM Power
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.
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