ITM Power (OTCMKTS:ITMPF) Now Covered by Analysts at Societe Generale

Societe Generale began coverage on shares of ITM Power (OTCMKTS:ITMPFGet Rating) in a research note issued to investors on Tuesday, The Fly reports. The brokerage issued a buy rating on the stock.

Several other research analysts also recently commented on the company. Jefferies Financial Group downgraded ITM Power from a buy rating to a hold rating in a report on Tuesday, November 15th. Citigroup downgraded ITM Power from a buy rating to a neutral rating in a report on Tuesday, November 8th. JPMorgan Chase & Co. reduced their price objective on ITM Power from GBX 420 ($4.97) to GBX 280 ($3.31) in a report on Friday, September 16th. HSBC downgraded ITM Power from a buy rating to a hold rating in a report on Friday, October 28th. Finally, Sanford C. Bernstein downgraded ITM Power from an outperform rating to a market perform rating in a report on Wednesday, November 2nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $355.00.

ITM Power Price Performance

Shares of ITMPF opened at $1.05 on Tuesday. ITM Power has a one year low of $0.84 and a one year high of $6.26. The business’s 50 day simple moving average is $1.14 and its 200-day simple moving average is $2.18.

About ITM Power

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ITM Power Plc designs, manufactures, and sells hydrogen energy systems for energy storage, transportation, and industrial sectors in the United Kingdom, Germany, Australia, rest of Europe, and the United States. It offers HGas1SP, HGas3SP, 3MEP CUBE, and 2GEP Skid. The company is also involved in the development and manufacture of prototype products; and sale of electrolysis equipment, automotive fuel, hydrogen, electrolyser solutions, and hydrogen storage solutions.

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Analyst Recommendations for ITM Power (OTCMKTS:ITMPF)

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