ITM Power (LON:ITM) Sets New 12-Month Low – Time to Sell?

ITM Power Plc (LON:ITM)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as GBX 28.52 ($0.36) and last traded at GBX 28.70 ($0.36), with a volume of 1977637 shares. The stock had previously closed at GBX 29.28 ($0.37).

Wall Street Analysts Forecast Growth

ITM has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and set a GBX 70 ($0.88) price objective on shares of ITM Power in a research note on Friday, December 6th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 60 ($0.75) price objective on shares of ITM Power in a research note on Friday, December 6th. Finally, Berenberg Bank reiterated a “hold” rating and set a GBX 59 ($0.74) price objective on shares of ITM Power in a research note on Thursday, December 5th.

ITM Power Trading Up 1.0 %

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’s fifty day moving average is GBX 35.10 and its 200-day moving average is GBX 40.44. The stock has a market cap of £180.72 million, a PE ratio of -6.63 and a beta of 2.03.

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

Insider Buying and Selling

In other news, insider Simon Bourne acquired 792 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was acquired at an average price of GBX 38 ($0.48) per share, for a total transaction of £300.96 ($378.52). Insiders acquired a total of 1,634 shares of company stock valued at $60,382 over the last 90 days. Insiders own 48.26% of the company’s stock.

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.