Itm Power (OTCMKTS:ITMPF) Shares Gap Down – Here’s What Happened

Itm Power (OTCMKTS:ITMPF)’s share price gapped down prior to trading on Friday. The stock had previously closed at $1.1006, but opened at $1.00. Itm Power shares last traded at $1.00, with a volume of 3,000 shares trading hands.

Wall Street Analysts Forecast Growth

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

Itm Power Stock Performance

The company’s 50 day moving average is $1.30 and its 200 day moving average is $1.36.

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.