Itm Power (OTCMKTS:ITMPF) Trading 10.1% Higher - Here's What Happened

Key Points

• Itm Power's stock rose by 10.1% during trading on Thursday, closing at $1.00 after previously closing at $0.91.
• Berenberg Bank upgraded Itm Power's rating from a "hold" to a "strong-buy", indicating positive sentiment among analysts.
• The company's fifty-day simple moving average is $0.99, significantly higher than its 200-day moving average of $0.64, suggesting upward momentum.

Itm Power (OTCMKTS:ITMPF - Get Free Report) traded up 10.1% during trading on Thursday . The company traded as high as $1.00 and last traded at $1.00. 1,000 shares were traded during mid-day trading, a decline of 90% from the average session volume of 10,209 shares. The stock had previously closed at $0.91.

Analyst Ratings Changes

Separately, Berenberg Bank raised shares of Itm Power from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Strong Buy".

Itm Power Stock Down 7.9%

The company's fifty day moving average price is $0.99 and its 200 day moving average price is $0.65.

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.