Itm Power (OTCMKTS:ITMPF) Sees Large Growth in Short Interest

Itm Power (OTCMKTS:ITMPF) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 35,500 shares, an increase of 290.3% from the May 31st total of 9,095 shares. Based on an average daily trading volume, of 70,343 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised shares of Itm Power from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy”.

Itm Power Trading Down 5.7%

Shares of ITMPF traded down $0.09 during mid-day trading on Friday, reaching $1.48. The company had a trading volume of 510 shares, compared to its average volume of 25,830. The company’s 50 day simple moving average is $2.01 and its 200 day simple moving average is $1.27. Itm Power has a 1-year low of $0.76 and a 1-year high of $2.85.

About Itm Power

Itm Power plc is a United Kingdom–based manufacturer of integrated hydrogen energy solutions, specializing in proton exchange membrane (PEM) electrolyzer systems. The company’s core offering includes modular electrolyzer stacks and balance-of-plant solutions designed to convert renewable electricity into green hydrogen. These systems can be scaled from small-scale demonstrations to multi-megawatt deployments, targeting applications in industry, gas blending and refueling infrastructure.

Beyond electrolyzer modules, Itm Power develops turnkey turnkey “power-to-gas” and “power-to-liquids” projects that enable carbon-free fuel production.