ITM Power (LON:ITM) Shares Up 15% – What’s Next?

ITM Power Plc (LON:ITM)’s share price traded up 15% on Tuesday . The stock traded as high as GBX 83.60 ($1.13) and last traded at GBX 83.60 ($1.13). 9,977,290 shares were traded during 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 reissued a “hold” rating and set a GBX 59 ($0.80) price target on shares of ITM Power in a report on Thursday, May 8th.

ITM Power Stock Performance

The business’s fifty day moving average price is GBX 42.08 and its two-hundred day moving average price is GBX 36.19. 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 stock has a market capitalization of £476.10 million, a P/E ratio of -17.48 and a beta of 2.03.

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.