Itm Power (OTCMKTS:ITMPF) Shares Shorted: Short Interest Up 5,137.4% in October

Itm Power (OTCMKTS:ITMPF) was the recipient of a large growth in short interest in October. As of October 30th, there was short interest totaling 403,964 shares, a growth of 5,137.4% from the October 15th total of 7,713 shares. Based on an average daily trading volume, of 11,939 shares, the short-interest ratio is currently 33.8 days. Currently, 0.1% of the shares of the stock are sold short.

Itm Power Trading Down 0.8%

OTCMKTS:ITMPF opened at $0.98 on Thursday. The stock has a 50 day moving average of $1.22 and a two-hundred day moving average of $1.37. Itm Power has a 12 month low of $0.80 and a 12 month high of $2.85.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ITMPF. Zacks Research raised shares of Itm Power to a “hold” rating in a report on Monday, October 26th. Peel Hunt upgraded shares of Itm Power to a “hold” rating in a research report 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. According to MarketBeat.com, the company presently has an average rating of “Hold”.

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.