David Somo Acquires 90,909 Shares of Ideal Power (NASDAQ:IPWR) Stock

Ideal Power Inc. (NASDAQ:IPWR) CEO David Somo acquired 90,909 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $2.75 per share, with a total value of $249,999.75. Following the acquisition, the chief executive officer owned 338,347 shares of the company’s stock, valued at approximately $930,454.25. This represents a 36.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ideal Power Stock Down 2.7%

Shares of IPWR opened at $3.59 on Friday. The business’s fifty day moving average is $3.62 and its 200 day moving average is $4.38. Ideal Power Inc. has a 12-month low of $2.62 and a 12-month high of $6.90. The stock has a market cap of $30.80 million, a P/E ratio of -2.90 and a beta of 0.97.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Westpark Capital upgraded shares of Ideal Power from a “hold” rating to a “buy” rating and set a $10.75 price objective for the company in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ideal Power in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.75.

Institutional Trading of Ideal Power

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new position in shares of Ideal Power during the second quarter valued at about $54,000. AlphaCore Capital LLC purchased a new stake in Ideal Power in the 4th quarter valued at about $57,000. Susquehanna International Group LLP bought a new position in shares of Ideal Power during the 3rd quarter worth approximately $132,000. Citadel Advisors LLC bought a new position in shares of Ideal Power during the 3rd quarter worth approximately $160,000. Finally, AMH Equity Ltd purchased a new position in shares of Ideal Power in the 3rd quarter worth approximately $785,000. Hedge funds and other institutional investors own 16.37% of the company’s stock.

Ideal Power Company Profile

Ideal Power Inc, based in Austin, Texas, specializes in the design and manufacture of advanced power conversion solutions for a range of energy applications. The company’s core technology is its proprietary Coupled Power Delivery (CPD) architecture, which enables efficient bi-directional conversion between DC and DC, as well as DC and AC power streams. These solutions are widely applied in renewable energy systems, energy storage, microgrids, and electric mobility platforms.

Ideal Power’s product lineup includes bi-directional DC converters, solid-state transformers, and intelligent power controllers.