Ideal Power Inc. (NASDAQ:IPWR) Short Interest Up 33.4% in March

Ideal Power Inc. (NASDAQ:IPWR) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 72,177 shares, a growth of 33.4% from the February 26th total of 54,112 shares. Based on an average daily trading volume, of 56,018 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.9% of the company’s stock are sold short.

Ideal Power Trading Down 6.9%

Ideal Power stock traded down $0.20 during mid-day trading on Monday, reaching $2.68. The company’s stock had a trading volume of 85,628 shares, compared to its average volume of 45,697. Ideal Power has a twelve month low of $2.62 and a twelve month high of $6.90. The business has a 50 day moving average price of $3.56 and a 200-day moving average price of $4.10. The firm has a market cap of $22.99 million, a price-to-earnings ratio of -2.31 and a beta of 1.02.

Ideal Power (NASDAQ:IPWR) last issued its earnings results on Tuesday, March 10th. The industrial products company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.10. Ideal Power had a negative net margin of 26,225.58% and a negative return on equity of 82.78%.

Insider Activity

In related news, CEO David M. Somo purchased 90,909 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average price of $2.75 per share, for a total transaction of $249,999.75. Following the completion of the purchase, the chief executive officer owned 338,347 shares in the company, valued at approximately $930,454.25. This represents a 36.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.36% of the company’s stock.

Hedge Funds Weigh In On Ideal Power

A number of hedge funds and other institutional investors have recently bought and sold shares of IPWR. AMH Equity Ltd acquired a new stake in Ideal Power in the third quarter worth about $785,000. AWM Investment Company Inc. raised its position in shares of Ideal Power by 21.7% during the 4th quarter. AWM Investment Company Inc. now owns 786,094 shares of the industrial products company’s stock worth $2,429,000 after buying an additional 140,349 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ideal Power by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 359,089 shares of the industrial products company’s stock worth $1,806,000 after buying an additional 16,883 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Ideal Power in the 2nd quarter worth approximately $54,000. Finally, AlphaCore Capital LLC bought a new position in shares of Ideal Power in the fourth quarter valued at approximately $57,000. 16.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on IPWR. Weiss Ratings reissued a “sell (d-)” rating on shares of Ideal Power in a report on Monday, December 29th. Wall Street Zen lowered shares of Ideal Power from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ideal Power has a consensus rating of “Hold” and a consensus target price of $10.75.

About Ideal Power

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.