ITM Power (LON:ITM) Shares Up 8.2% – Here’s Why

ITM Power Plc (LON:ITM) shares traded up 8.2% during trading on Wednesday . The company traded as high as GBX 35 ($0.47) and last traded at GBX 31.23 ($0.42). 9,660,370 shares were traded during mid-day trading, an increase of 143% from the average session volume of 3,982,744 shares. The stock had previously closed at GBX 28.85 ($0.38).

ITM Power Trading Up 1.8 %

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 business’s 50-day moving average price is GBX 28.67 and its 200 day moving average price is GBX 34.45. The company has a market cap of £195.99 million, a P/E ratio of -7.19 and a beta of 2.03.

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

Insider Buying and Selling at ITM Power

In other news, insider Amy Grey acquired 102,455 shares of ITM Power stock in a transaction dated Friday, February 28th. The stock was bought at an average price of GBX 29 ($0.39) per share, for a total transaction of £29,711.95 ($39,631.79). Insiders have purchased a total of 103,937 shares of company stock worth $3,016,249 over the last ninety 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.