ITM Power share with a loss of over -4%: Will the penny stock ever rise in value?

ITM Power share with a loss of over -4%: Will the penny stock ever rise in value?

In the last trading day, ITM Power again recorded a loss of over 4%. The share remains below one euro and is therefore one of the uncertain penny stocks. Hopes for a quick recovery seem questionable, especially since rival company Nel Asa also suffered setbacks, weighing on market sentiment.

Nel Asa recently published its quarterly figures, which were mixed and were viewed rather negatively by the stock markets. Sales remained below expectations and the targets set were missed by almost 10%. Despite ongoing losses, Nel Asa was only just able to maintain its company value. This sensitive market reaction casts an alarming shadow over ITM Power.

The situation is worrying for ITM Power as the company also recorded a loss of over 4% without any internal incidents. Chart-wise, the company is in a difficult position as it has reached penny stock status. The market capitalization is less than 500 million euros and the share value is less than 1 euro. This opens up room for speculation.

The technical situation is also worrying, as the price gap to important indicators is becoming ever larger. The 100-day moving average (GD100) was missed by about 23%. Although analysts still see considerable upside opportunity and are forecasting an average gain of over 80%, the starting point is bleak.

Speculation on this stock is expected to continue in the coming weeks or even days. Hopefully the market will buy into ITM Power at some point. However, looking ahead shows that the path ITM Power has taken could potentially be difficult.

According to a report by Finanztrends.de,