ITM Power Plc (OTCMKTS:ITMPF) Receives Consensus Recommendation of “Hold” from Analysts

Shares of ITM Power Plc (OTCMKTS:ITMPFGet Rating) have been given a consensus rating of “Hold” by the eight brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $435.00.

Several research firms have recently weighed in on ITMPF. Berenberg Bank decreased their price target on shares of ITM Power from GBX 350 ($4.32) to GBX 300 ($3.70) in a research note on Wednesday, January 19th. Royal Bank of Canada raised shares of ITM Power from a “sector perform” rating to an “outperform” rating and set a $500.00 price target on the stock in a research note on Wednesday, April 13th. Zacks Investment Research downgraded shares of ITM Power from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of ITM Power in a research note on Wednesday, April 20th.

Shares of OTCMKTS:ITMPF traded down $0.34 during midday trading on Tuesday, hitting $3.40. The company’s stock had a trading volume of 21,395 shares, compared to its average volume of 15,632. The business’s 50 day simple moving average is $4.52 and its 200 day simple moving average is $4.85. ITM Power has a 12-month low of $2.96 and a 12-month high of $7.30.

ITM Power Company Profile (Get Rating)

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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Analyst Recommendations for ITM Power (OTCMKTS:ITMPF)

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