Itm Power (OTCMKTS:ITMPF) Shares Gap Up - Still a Buy?

Key Points

• Shares of Itm Power gapped up from $0.82 to $0.89, with trading occurring at a volume of 150 shares after the market opened.
• Analysts have recently upgraded their ratings on Itm Power, with one from Berenberg Bank changing the rating from "hold" to "strong-buy." The stock currently holds an average rating of "Buy."
• Itm Power specializes in manufacturing proton exchange membrane (PEM) electrolysers for various projects, enhancing its product portfolio with technologies like TRIDENT and POSEIDON.

Shares of Itm Power (OTCMKTS:ITMPF - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $0.82, but opened at $0.89. Itm Power shares last traded at $0.89, with a volume of 150 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ITMPF shares. Peel Hunt raised shares of Itm Power to a "hold" rating in a research report on Friday, August 29th. Berenberg Bank upgraded shares of 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Buy".

Itm Power Trading Up 2.5%

The company's 50 day moving average price is $0.93 and its two-hundred day moving average price is $0.71. 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.