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

Itm Power (OTCMKTS:ITMPF) was the recipient of a large increase in short interest during 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. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 11,939 shares, the short-interest ratio is currently 33.8 days.

Analyst Ratings Changes

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

Itm Power Stock Performance

Shares of OTCMKTS ITMPF opened at $0.99 on Wednesday. The firm has a 50 day moving average of $1.23 and a 200 day moving average of $1.37. Itm Power has a 12-month low of $0.80 and a 12-month high of $2.85.

About Itm Power

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.