ITM Power Plc (OTCMKTS:ITMPF) Sees Significant Growth in Short Interest

ITM Power Plc (OTCMKTS:ITMPF) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 13,700 shares, a growth of 158.5% from the August 31st total of 5,300 shares. Based on an average trading volume of 18,300 shares, the days-to-cover ratio is presently 0.7 days.

ITMPF traded up $0.10 during trading on Tuesday, reaching $3.40. 3,823 shares of the company traded hands, compared to its average volume of 10,879. ITM Power has a 12-month low of $0.56 and a 12-month high of $4.66. The business’s fifty day simple moving average is $3.56.

Several equities research analysts have weighed in on ITMPF shares. Stifel Nicolaus initiated coverage on ITM Power in a report on Friday, August 14th. They issued a “hold” rating for the company. Investec raised ITM Power to a “buy” rating in a research report on Wednesday, September 16th. Finally, Citigroup initiated coverage on ITM Power in a report on Thursday, September 17th. They issued a “buy” rating for the company.

ITM Power Company Profile

ITM Power Plc designs, manufactures, and sells hydrogen energy systems for energy storage, clean fuel production, and renewable chemistry in the United Kingdom, Germany, Italy, rest of Europe, and North America. It offers HGas for power-to-gas applications. The company is also involved in the research and development of scientific and engineering projects; development and manufacture of prototype products; and sale of electrolysis equipment and hydrogen storage solutions.

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