Itm Power (OTCMKTS:ITMPF) Shares Gap Down - Here's What Happened

Key Points

• Itm Power shares gapped down at the market opening, starting at $0.79 after closing the previous day at $0.86.
• Berenberg Bank upgraded Itm Power's rating from "hold" to "strong-buy" on August 4th, indicating a more favorable outlook for the stock.
• The company specializes in designing and manufacturing proton exchange membrane electrolysers across multiple countries, including the UK, Germany, and the US.

Itm Power (OTCMKTS:ITMPF - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $0.86, but opened at $0.79. Itm Power shares last traded at $0.84, with a volume of 1,272 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank raised shares of Itm Power from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th.

Itm Power Stock Down 0.5%

The stock has a 50-day simple moving average of $1.00 and a 200 day simple moving average of $0.63.

Itm Power Company Profile

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.

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