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

Key Points

• Itm Power shares gapped down from a previous close of $1.01 to open at $0.93, marking a significant decrease.
• Berenberg Bank upgraded the stock from a "hold" to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy" among analysts.
• The company's 50-day moving average is $1.00, while its 200-day moving average is $0.65, indicating potential volatility in trading performance.

Itm Power (OTCMKTS:ITMPF - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $1.01, but opened at $0.93. Itm Power shares last traded at $0.93, with a volume of 1,158 shares changing hands.

Analysts Set New Price Targets

Separately, Berenberg Bank raised shares of Itm Power from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has a consensus rating of "Strong Buy".

Itm Power Trading Down 7.9%

The business has a 50-day moving average of $1.00 and a 200-day moving average of $0.65.

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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