Itm Power (OTCMKTS:ITMPF) Trading 11.8% Higher - Still a Buy?

Key Points

• Itm Power (OTCMKTS:ITMPF) shares saw an impressive 11.8% increase in trading, reaching a price of $1.14.
• Analysts have upgraded the stock's rating, with Berenberg Bank changing it from "hold" to a "strong-buy", contributing to a consensus rating of "Buy."
• The company focuses on proton exchange membrane (PEM) electrolysers, catering to markets in the UK, Germany, Australia, Europe, and the US.

Itm Power (OTCMKTS:ITMPF - Get Free Report) shares traded up 11.8% on Tuesday . The company traded as high as $1.14 and last traded at $1.14. 8,375 shares changed hands during trading, a decline of 13% from the average session volume of 9,676 shares. The stock had previously closed at $1.02.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Berenberg Bank upgraded shares of Itm Power from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Peel Hunt upgraded shares of Itm Power to a "hold" rating in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Itm Power has a consensus rating of "Buy".

Itm Power Trading Up 11.8%

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 firm's 50-day simple moving average is $0.97 and its two-hundred day simple moving average is $0.84.

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.

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