ITM Power Insiders and Government Double Down as the Market Steps Back

Two top executives buy ITM Power shares after a 53% drop from the 52-week high, coinciding with a £86.5M UK government grant for electrolyser production and oversold RSI signals.

ITM Power’s share price has lost more than half its value from the 52-week high reached at the end of May, yet two top executives have chosen this moment to buy in. Simon Bourne and Dennis Schulz each snapped up 268 shares through the company’s employee matching programme on 15 July 2026, purchasing at an average price of £1.1231. Under the scheme, employees can invest up to £150 per month and ITM Power matches their contribution one-for-one. The board members maxed out the allowance, acquiring 134 partnership shares apiece while the company added another 134 for each of them.

The purchases come against a backdrop of severe short-term weakness. Over the past 30 days the stock has shed more than 15%, closing the latest trading week at €1.22 — a slide of nearly 10% in seven days alone. From the 52-week high of €2.58 reached on 29 May, the shares have fallen by roughly 53%. The 50-day moving average now sits at €1.65, well above the current price. Yet the longer view tells a different story: the stock is still up roughly 69% year to date and has gained more than 40% over the past twelve months. The Relative Strength Index at 36.9 suggests the equity is edging into oversold territory, which could offer short-term stabilisation — though by itself that is no buy signal.

What makes the insider buying particularly noteworthy is that it coincides with a fresh injection of state backing. On 9 July, ITM Power received formal approval for a £46.5 million grant from the UK Department for Energy Security and Net Zero. The funding, first flagged in April, will support the ramp-up of manufacturing capacity for the company’s next-generation Chronos electrolyser in Sheffield. Combined with a £40 million equity injection from Great British Energy, total public support for the project reaches £86.5 million — a tangible vote of confidence in the technology at a time when the market is punishing the share price.

Operationally, the Sheffield site remains active. A job posting for a Quality Technical Inspector has been advertised, with applications open until 15 September. The role covers quality control, documentation, and fault analysis, requiring an engineering qualification and familiarity with metrology and ERP systems. While not a substitute for a revenue update, the listing signals that production has not stalled.

Broader industry developments also caught the attention of ITM Power watchers. The European hydrogen pipeline project H2MED, linking Barcelona and Marseille, entered the FEED (front-end engineering design) phase in mid-July. No direct contractual link to ITM Power has been established, so the news remains contextual — a sign of infrastructure buildout rather than a near-term catalyst for the company.

With 30-day volatility running at around 100%, trading in ITM Power remains erratic. Mechanical price models sketched out the possibility of a dip toward 95 pence in September, followed by a modest recovery toward year-end, but such algorithms rely on historical patterns and carry no fundamental analyst backing. For now, investors are left weighing the conflicting signals: a management team that buys its own stock alongside a government that is pouring cash into the factory, versus a market that continues to sell the shares down.