Itm Power (OTCMKTS:ITMPF) Trading Down 6.3% - Should You Sell?

Key Points

• Itm Power's share price decreased by 6.3% on Wednesday, closing at $1.05 after hitting a low of $1.05 during the trading day.
• Despite the decline, analysts have generally favorable outlooks, with Berenberg Bank upgrading the stock to a "strong-buy" and an overall average rating of "Buy" from MarketBeat.
• Itm Power focuses on manufacturing PEM electrolysers and has a solid liquidity position, reflected by a current ratio of 3.07 and a quick ratio of 2.46.

Itm Power (OTCMKTS:ITMPF - Get Free Report)'s share price was down 6.3% during trading on Wednesday . The company traded as low as $1.05 and last traded at $1.05. Approximately 6,461 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 9,844 shares. The stock had previously closed at $1.12.

Wall Street Analyst Weigh In

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

Itm Power Trading Down 6.3%

The company has a current ratio of 3.07, a quick ratio of 2.46 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average of $0.96 and a two-hundred day moving average of $0.81.

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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