ITM POWER (OTCMKTS:ITMPF) Shares Gap Up - Here's What Happened

Key Points

• ITM POWER's shares gapped up prior to trading, opening at $1.07, up from a previous close of $1.00.
• Berenberg Bank upgraded ITM POWER's rating to "strong-buy", while Peel Hunt issued a "hold" rating, leading to a current consensus rating of "Buy".
• The company's debt-to-equity ratio is 0.05, indicating a strong financial position with significant liquidity reflected in a current ratio of 3.07.

ITM POWER (OTCMKTS:ITMPF - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $1.00, but opened at $1.07. ITM POWER shares last traded at $1.06, with a volume of 800 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ITMPF. Berenberg Bank raised shares of ITM POWER from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Peel Hunt upgraded shares of ITM POWER to a "hold" rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

ITM POWER Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 3.07 and a quick ratio of 2.46. The company's fifty day simple moving average is $0.91 and its 200 day simple moving average is $0.77.

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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