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

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ITMPF. Zacks Research raised shares of Itm Power to a “hold” rating in a research note on Monday, October 26th. Peel Hunt raised shares of Itm Power to a “hold” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Itm Power Trading Down 8.2%

Shares of ITMPF traded down $0.09 during trading hours on Friday, hitting $1.01. The stock had a trading volume of 12,500 shares, compared to its average volume of 6,475. The company’s fifty day simple moving average is $1.29 and its 200 day simple moving average is $1.36. Itm Power has a 12-month low of $0.80 and a 12-month high of $2.85.

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.