Ideal Power Inc. (IPWR) Lowered to “Hold” at Zacks Investment Research
According to Zacks, “Ideal Power, Inc. is engaged in development of a novel, patented power conversion technology called Power Packet Switching Architecture(TM). The company also provides photovoltaic inverters and battery converters for grid storage and electrified vehicle fast-charging infrastructure. In addition, it offers hybrid power conversion systems and power switches. Ideal Power, Inc. is based in Spicewood, Texas. “
Separately, Roth Capital set a $14.00 price objective on Ideal Power and gave the company a buy rating in a research note on Monday, September 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $12.10.
Shares of Ideal Power (NASDAQ:IPWR) opened at 5.01 on Monday. The stock has a 50 day moving average price of $5.09 and a 200-day moving average price of $4.94. The company’s market capitalization is $47.88 million. Ideal Power has a 52 week low of $3.73 and a 52 week high of $9.65.
Ideal Power (NASDAQ:IPWR) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.05. Ideal Power had a negative return on equity of 72.36% and a negative net margin of 418.53%. Equities research analysts expect that Ideal Power will post ($1.12) EPS for the current year.
Hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its stake in shares of Ideal Power by 1,584.4% in the second quarter. BlackRock Fund Advisors now owns 21,560 shares of the company’s stock worth $106,000 after buying an additional 20,280 shares during the last quarter. Commonwealth Equity Services Inc raised its stake in shares of Ideal Power by 13.6% in the second quarter. Commonwealth Equity Services Inc now owns 37,600 shares of the company’s stock worth $185,000 after buying an additional 4,501 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Ideal Power by 0.7% in the second quarter. Vanguard Group Inc. now owns 138,596 shares of the company’s stock worth $683,000 after buying an additional 900 shares during the last quarter. Finally, S Squared Technology LLC raised its stake in shares of Ideal Power by 8.3% in the second quarter. S Squared Technology LLC now owns 586,704 shares of the company’s stock worth $2,892,000 after buying an additional 44,904 shares during the last quarter. 30.15% of the stock is currently owned by hedge funds and other institutional investors.
Ideal Power Company Profile
Ideal Power Inc (Ideal Power) provides solutions for markets, such as battery energy storage systems, integrated renewable energy and storage, and microgrid applications. Ideal Power has developed an electronic power conversion technology called Power Packet Switching Architecture (PPSA). Ideal Power’s PPSA is a transformerless power conversion system that provides the necessary electrical isolation required to connect electrical devices together on the grid.
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