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

Key Points

• Itm Power shares gapped up to $0.91 from a previous close of $0.86, indicating positive trading momentum.
• Berenberg Bank upgraded Itm Power from a "hold" to a "strong-buy" rating, signaling increased confidence in the stock's potential.
• The company's fifty-day moving average is $0.99 and the two-hundred-day moving average is $0.64, reflecting its recent trading trends.

Itm Power (OTCMKTS:ITMPF - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $0.86, but opened at $0.91. Itm Power shares last traded at $0.92, with a volume of 5,200 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank raised shares of Itm Power from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th.

Itm Power Stock Performance

The stock's 50-day moving average is $1.00 and its two-hundred day moving average is $0.65.

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.