Dennis Schulz Acquires 134 Shares of ITM Power (LON:ITM) Stock

ITM Power Plc (LON:ITM) insider Dennis Schulz acquired 134 shares of the company’s stock in a transaction dated Wednesday, July 15th. The shares were bought at an average cost of GBX 112 per share, for a total transaction of £150.08.

Dennis Schulz also recently made the following trade(s):

• On Friday, May 15th, Dennis Schulz bought 92 shares of ITM Power stock. The stock was purchased at an average cost of GBX 162 per share, for a total transaction of £149.04.

ITM Power Stock Performance

Shares of ITM stock opened at GBX 103.10 on Friday. The business has a fifty day moving average of GBX 141.57 and a 200 day moving average of GBX 100.22. ITM Power Plc has a 1 year low of GBX 56.80 and a 1 year high of GBX 219.80. The firm has a market capitalization of £711.60 million, a price-to-earnings ratio of -20.62 and a beta of 2.89. The company has a debt-to-equity ratio of 6.99, a current ratio of 2.62 and a quick ratio of 7.56.

Wall Street Analysts Forecast Growth

ITM has been the subject of several recent analyst reports. Berenberg Bank upped their price target on ITM Power from GBX 100 to GBX 110 and gave the company a “buy” rating in a report on Tuesday, April 14th. Jefferies Financial Group raised shares of ITM Power to a “buy” rating and raised their price objective for the stock from £115 to £200 in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 6,723.33.

About ITM Power

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants.

With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.

Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.