Itm Power (OTCMKTS:ITMPF) Shares Shorted: Short Interest Down 47.4% in October

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

Itm Power Trading Down 8.2%

Shares of Itm Power stock traded down $0.09 during trading on Friday, hitting $1.01. 12,500 shares of the company were exchanged, compared to its average volume of 6,475. Itm Power has a fifty-two week low of $0.80 and a fifty-two week high of $2.85. The firm has a 50 day moving average price of $1.29 and a 200 day moving average price of $1.36.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Peel Hunt raised shares of Itm Power to a “hold” rating in a research note on Thursday, October 8th. Zacks Research raised shares of Itm Power to a “hold” rating in a report on Monday, October 26th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Itm Power Company Profile

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.