Itm Power (OTCMKTS:ITMPF) Stock Short Interest Drops 47.4%

Itm Power (OTCMKTS:ITMPF) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 7,713 shares, a drop of 47.4% from the September 30th total of 14,655 shares. Based on an average daily trading volume, of 10,714 shares, the short-interest ratio is currently 0.7 days. Currently, 0.0% of the company’s shares are short sold.

Itm Power Stock Up 1.0%

OTCMKTS:ITMPF traded up $0.01 during mid-day trading on Monday, hitting $1.02. 4,447 shares of the company’s stock were exchanged, compared to its average volume of 24,062. The company has a 50 day simple moving average of $1.29 and a 200-day simple moving average of $1.36. Itm Power has a fifty-two week low of $0.80 and a fifty-two week high of $2.85.

Wall Street Analysts Forecast Growth

ITMPF has been the topic of a number of recent analyst reports. Zacks Research raised shares of Itm Power to a “hold” rating in a research note on Monday, October 26th. Peel Hunt upgraded shares of Itm Power to a “hold” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

About Itm Power

ITM Power plc is a United Kingdom-based company that designs and manufactures electrolyzers used to produce green hydrogen. Its technology uses renewable electricity to split water into hydrogen and oxygen, supporting lower-carbon applications in industry, transportation, energy storage and other sectors.

The company’s products include proton exchange membrane (PEM) electrolyzer stacks, modules and integrated systems. ITM Power also provides related engineering, installation, commissioning and service capabilities for larger hydrogen projects, including systems designed for integration with renewable power and industrial facilities.

Founded in 2001 and headquartered in Sheffield, England, ITM Power serves customers and project partners in the United Kingdom and international markets.