Itm Power (OTCMKTS:ITMPF) Shares Gap Down - Should You Sell?

Key Points

• Itm Power shares opened at $1.02, having gapped down from a previous close of $1.06, with 626 shares traded at the lower price.
• Berenberg Bank upgraded Itm Power's rating from "hold" to "strong-buy", while Peel Hunt rated it a "hold"; currently, it holds an average rating of "Buy".
• The company specializes in designing and manufacturing proton exchange membrane (PEM) electrolysers for various markets, including Europe and the United States.

Shares of Itm Power (OTCMKTS:ITMPF - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $1.06, but opened at $1.02. Itm Power shares last traded at $1.02, with a volume of 626 shares changing hands.

Wall Street Analyst Weigh In

ITMPF has been the subject of a number of research analyst reports. Berenberg Bank raised shares of 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 analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Itm Power currently has an average rating of "Buy".

Itm Power Price Performance

The stock has a fifty day moving average of $0.90 and a 200-day moving average of $0.74. The company has a quick ratio of 2.46, a current ratio of 3.07 and a debt-to-equity ratio of 0.05.

About Itm Power

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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