JPMorgan Chase & Co. Lowers ITM Power (LON:ITM) to Neutral

JPMorgan Chase & Co. downgraded shares of ITM Power (LON:ITM) to a neutral rating in a research note released on Tuesday morning, Marketbeat reports. The brokerage currently has GBX 90 ($1.15) target price on the stock, down from their prior target price of GBX 130 ($1.67).

ITM Power Price Performance

ITM Power stock opened at GBX 65.50 ($0.84) on Tuesday. The company has a market capitalization of £404.12 million, a price-to-earnings ratio of -655.00 and a beta of 1.78. The company has a current ratio of 4.45, a quick ratio of 7.56 and a debt-to-equity ratio of 2.62. ITM Power has a 12 month low of GBX 42.90 ($0.55) and a 12 month high of GBX 99 ($1.27). The stock’s 50 day moving average is GBX 53.92 and its 200-day moving average is GBX 54.28.

Insiders Place Their Bets

In other ITM Power news, insider Dennis Schulz acquired 524 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average price of GBX 57 ($0.73) per share, for a total transaction of £298.68 ($382.58). Insiders have bought 1,103 shares of company stock worth $59,967 in the last 90 days. Company insiders own 32.42% of the company’s stock.

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. Its product portfolio includes TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a cutting-edge 20 MW module for large-scale projects.