Itm Power (OTCMKTS:ITMPF) Trading 13.2% Higher - Should You Buy?

Key Points

• Itm Power's share price surged by 13.2% on Monday, reaching $1.20 after previously closing at $1.06, with trading volume increasing to 11,082 shares.
• Recent analyst reports have been positive, with Peel Hunt rating Itm Power as a "hold" and Berenberg Bank upgrading it to "strong-buy", contributing to an average rating of "Buy" for the stock.
• Itm Power designs and manufactures proton exchange membrane (PEM) electrolysers for various markets, emphasizing its technology portfolio which includes products like TRIDENT and NEPTUNE.

Itm Power (OTCMKTS:ITMPF - Get Free Report)'s share price rose 13.2% on Monday . The company traded as high as $1.20 and last traded at $1.20. Approximately 11,082 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 9,495 shares. The stock had previously closed at $1.06.

Wall Street Analyst Weigh In

ITMPF has been the subject of a number of recent analyst reports. Peel Hunt raised Itm Power to a "hold" rating in a report on Friday, August 29th. Berenberg Bank upgraded shares of Itm Power from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Itm Power presently has an average rating of "Buy".

Itm Power Trading Up 10.4%

The company has a debt-to-equity ratio of 0.05, a current ratio of 3.07 and a quick ratio of 2.46. The firm's 50-day moving average price is $0.91 and its 200 day moving average price is $0.78.

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.