ITM Power Plc (LON:ITM – Get Free Report)’s stock price reached a new 52-week low on Thursday . The company traded as low as GBX 42.02 ($0.55) and last traded at GBX 42.48 ($0.55), with a volume of 4048537 shares changing hands. The stock had previously closed at GBX 43.12 ($0.56).
Analyst Ratings Changes
Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of ITM Power to a “neutral” rating and lowered their price target for the stock from GBX 130 ($1.70) to GBX 90 ($1.18) in a report on Tuesday, July 9th. Berenberg Bank lowered their target price on shares of ITM Power from GBX 60 ($0.78) to GBX 59 ($0.77) and set a “hold” rating for the company in a research note on Thursday, August 15th.
Read Our Latest Analysis on ITM
ITM Power Stock Performance
Insider Activity
In other news, insider Andy Allen bought 658 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were bought at an average cost of GBX 46 ($0.60) per share, for a total transaction of £302.68 ($395.25). In other ITM Power news, insider Andy Allen purchased 658 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were acquired at an average price of GBX 46 ($0.60) per share, with a total value of £302.68 ($395.25). Also, insider Dennis Schulz acquired 518 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of GBX 58 ($0.76) per share, with a total value of £300.44 ($392.32). Insiders bought a total of 1,484 shares of company stock worth $75,404 over the last quarter. 48.26% of the stock is currently owned by corporate insiders.
About ITM Power
ITM Power Plc designs and manufactures proton exchange membrane (PEM) electrolysers in the United Kingdom, Germany, Australia, rest of Europe, and the United States. The company’s product portfolio comprises TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a 20 MW electrolysis process module for large-scale projects.
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