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

Key Points

• Itm Power shares gapped down prior to trading, opening at $1.02 after closing at $1.04.
• Analysts have mixed ratings on Itm Power, with Berenberg Bank upgrading it to a strong-buy and Peel Hunt issuing a hold rating, leading to a consensus rating of "Buy".
• The company's 50-day moving average is $0.97 and its two-hundred day moving average is $0.83, indicating upward momentum in stock performance.

Itm Power (OTCMKTS:ITMPF - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $1.04, but opened at $1.02. Itm Power shares last traded at $1.03, with a volume of 890 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ITMPF shares. Berenberg Bank raised Itm Power from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Peel Hunt raised Itm Power to a "hold" rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Itm Power presently has a consensus rating of "Buy".

Itm Power Stock Performance

The stock's 50 day moving average is $0.97 and its two-hundred day moving average is $0.83. The company has a quick ratio of 2.46, a current ratio of 3.07 and a debt-to-equity ratio of 0.05.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.