ITM Power (LON:ITM) Share Price Passes Below 200 Day Moving Average – Here’s Why

by · The Markets Daily

Shares of ITM Power Plc (LON:ITM – Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 72.85 and traded as low as GBX 61.62. ITM Power shares last traded at GBX 62.40, with a volume of 10,323,157 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ITM. Jefferies Financial Group increased their price target on shares of ITM Power from GBX 60 to GBX 115 and gave the company a “buy” rating in a report on Wednesday, October 1st. Berenberg Bank restated a “buy” rating and issued a GBX 100 target price on shares of ITM Power in a report on Thursday, December 4th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of GBX 107.50.

Read Our Latest Stock Report on ITM

ITM Power Price Performance

The company has a market capitalization of £405.68 million, a PE ratio of -8.90 and a beta of 2.03. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73. The company’s 50 day moving average price is GBX 76.80 and its 200-day moving average price is GBX 73.16.

ITM Power Company Profile

(Get Free Report)

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.

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