Itm Power (OTCMKTS:ITMPF) Trading 4.8% Higher - Time to Buy?

Key Points

• Itm Power's stock price rose by 4.8% during trading, reaching $0.98, although the trading volume significantly declined by 98% compared to the average session.
• Berenberg Bank upgraded Itm Power's rating from "hold" to a "strong-buy," contributing to a consensus rating of "Strong Buy" for the stock.
• Itm Power specializes in manufacturing proton exchange membrane (PEM) electrolysers, with products designed for various project scales, including small to large-scale implementations.

Itm Power (OTCMKTS:ITMPF - Get Free Report) shot up 4.8% during mid-day trading on Tuesday . The stock traded as high as $0.98 and last traded at $0.98. 100 shares changed hands during trading, a decline of 98% from the average session volume of 5,050 shares. The stock had previously closed at $0.94.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank upgraded 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, According to data from MarketBeat.com, Itm Power has an average rating of "Strong Buy".

Itm Power Price Performance

The business has a fifty day moving average of $0.98 and a two-hundred day moving average of $0.68.

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.