Itm Power (OTCMKTS:ITMPF) Stock Short Interest Rises 5,137.4%

Itm Power (OTCMKTS:ITMPF) saw a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 403,964 shares, an increase of 5,137.4% from the October 15th total of 7,713 shares. Based on an average daily volume of 11,939 shares, the days-to-cover ratio is presently 33.8 days. Currently, 0.1% of the company’s shares are sold short.

Itm Power Price Performance

ITMPF traded up $0.00 during trading on Tuesday, reaching $0.99. 4,650 shares of the stock traded hands, compared to its average volume of 6,550. The stock’s 50-day simple moving average is $1.23 and its two-hundred day simple moving average is $1.37. 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

A number of equities research analysts recently issued reports on ITMPF shares. Peel Hunt upgraded shares of Itm Power to a “hold” rating in a report on Thursday, October 8th. Zacks Research raised Itm Power to a “hold” rating in a research note on Monday, October 26th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Itm Power Company Profile

ITM Power is a U.K.-based clean-energy company that designs and manufactures proton exchange membrane (PEM) electrolyser systems. Its equipment uses electricity to produce hydrogen from water, with the aim of supplying hydrogen made using renewable power. The company’s products and integrated systems are intended for uses including industrial hydrogen supply, transport and energy storage. ITM Power also develops and delivers hydrogen projects with customers and partners, particularly in the United Kingdom and other international markets.