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

ITM Power (LON:ITM – Download Free Report) was downgraded by research analysts at JPMorgan Chase & Co. to a “neutral” rating in a report released on Tuesday, Digital Look reports. They currently have a price target of GBX 90 ($1.15) on the stock, down from their previous target price of GBX 130 ($1.67). JPMorgan Chase & Co.’s price target suggests a potential upside of 60.87% from the stock’s previous close.

ITM Power shares down 5.7%

LON ITM shares opened at GBX 55.95 ($0.72) on Tuesday. The company has a current ratio of 7.56, a current ratio of 4.45 and a debt-to-equity ratio of 2.62. ITM Power has a 52-week low of GBX 42.90 ($0.55) and a 52-week high of GBX 99 ($1.27). The company has a 50-day moving average price of GBX 53.10 and a 200-day moving average price of GBX 54.14. The stock has a market capitalization of GBP 345.18 million, a price-to-earnings ratio of -561.50 and a beta of 1.78.

Insiders place their bets

In other ITM Power news, insider Dennis Schulz bought 524 shares of the company’s stock in a transaction on Wednesday, May 15. The shares were purchased at an average price of GBP57 ($0.73) per share, for a total transaction value of GBP298.68 ($382.58). In the last quarter, insiders purchased 1,103 shares of the company’s stock worth $59,967. Insiders own 32.42% of the company’s stock.

ITM Power Company Profile

(Download the free report)

ITM Power Plc designs and manufactures proton exchange membrane (PEM) electrolyzers in the United Kingdom, Germany, Australia, the rest of Europe, and the United States. Its product portfolio includes TRIDENT, a PEM electrolyzer stack technology; NEPTUNE, a 2 MW plug and play electrolyzer for small to medium-sized projects; and POSEIDON, a state-of-the-art 20 MW module for large-scale projects.

ITM Power shares down 5.7%

Insiders place their bets

ITM Power Company Profile

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