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

Key Points

• Itm Power's stock price gapped up from $0.94 to $0.99 before trading, with a last trade at $1.02 and a trading volume of 2,326 shares.
• Recent upgrades from equities research analysts have improved Itm Power's ratings, with Berenberg Bank raising it to a "strong-buy" and Peel Hunt upgrading it to a "hold."
• The company has a debt-to-equity ratio of 0.05, indicating a solid financial position along with a quick ratio of 2.46 and a current ratio of 3.07.

Itm Power (OTCMKTS:ITMPF - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $0.94, but opened at $0.99. Itm Power shares last traded at $1.02, with a volume of 2,326 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Peel Hunt upgraded Itm Power to a "hold" rating in a research report on Friday, August 29th. Berenberg Bank raised Itm Power from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Itm Power presently has an average rating of "Buy".

Itm Power Stock Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.46 and a current ratio of 3.07. The company has a 50-day simple moving average of $0.90 and a 200-day simple moving average of $0.73.

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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