ITM Power (OTCMKTS:ITMPF) Reaches New 52-Week Low at $2.25

Shares of ITM Power Plc (OTCMKTS:ITMPFGet Rating) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $2.25 and last traded at $2.34, with a volume of 15328 shares. The stock had previously closed at $2.60.

ITMPF has been the subject of several research analyst reports. Royal Bank of Canada upgraded shares of ITM Power from a “sector perform” rating to an “outperform” rating and set a $500.00 price target for the company in a research note on Wednesday, April 13th. Sanford C. Bernstein started coverage on shares of ITM Power in a research note on Wednesday, May 18th. They issued an “outperform” rating for the company. Morgan Stanley lowered shares of ITM Power from an “equal weight” rating to an “underweight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of ITM Power from GBX 470 ($5.76) to GBX 420 ($5.14) in a research note on Monday, June 13th. Three research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, ITM Power has an average rating of “Hold” and an average target price of $432.00.

The business’s 50-day moving average price is $3.65 and its 200 day moving average price is $4.21.

About ITM Power (OTCMKTS:ITMPF)

ITM Power Plc designs, manufactures, and sells hydrogen energy systems for energy storage, transportation, and industrial sectors in the United Kingdom, Germany, rest of Europe, and the United States. It offers HGas for power-to-gas, clean fuel, and industrial hydrogen applications. The company is also involved in the development and manufacture of prototype products; and sale of electrolysis equipment and hydrogen storage solutions.

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