ITM Power (LON:ITM) Stock Price Up 15% – Still a Buy?

Shares of ITM Power Plc (LON:ITM) traded up 15% during trading on Monday . The company traded as high as GBX 83.60 ($1.13) and last traded at GBX 83.60 ($1.13). 9,977,290 shares changed hands during mid-day trading, an increase of 114% from the average session volume of 4,667,740 shares. The stock had previously closed at GBX 72.70 ($0.99).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 59 ($0.80) price target on shares of ITM Power in a research note on Thursday, May 8th.

ITM Power Stock Performance

The firm has a market cap of £520.97 million, a price-to-earnings ratio of -19.12 and a beta of 2.03. The stock has a 50 day moving average of GBX 40.14 and a 200 day moving average of GBX 35.63. The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73.

ITM Power Company Profile

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.