Ideal Power Inc. (NASDAQ:IPWR) Receives Average Recommendation of “Buy” from Analysts
Shares of Ideal Power Inc. (NASDAQ:IPWR) have earned an average recommendation of “Buy” from the six ratings firms that are presently covering the firm. One equities research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $12.67.
Separately, Roth Capital set a $14.00 price target on Ideal Power and gave the company a “buy” rating in a research note on Monday.
Shares of Ideal Power (NASDAQ:IPWR) remained flat at $5.20 during midday trading on Tuesday. The company’s stock had a trading volume of 4,960 shares. The stock’s market capitalization is $49.70 million. The firm has a 50 day moving average price of $5.07 and a 200 day moving average price of $4.83. Ideal Power has a 1-year low of $3.73 and a 1-year high of $9.65.
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Ideal Power (NASDAQ:IPWR) last released its quarterly earnings results on Thursday, August 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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%. On average, equities research analysts expect that Ideal Power will post ($1.12) EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in IPWR. S Squared Technology LLC increased its stake in 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 in the last quarter. BlackRock Fund Advisors increased its stake in 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 in the last quarter. Commonwealth Equity Services Inc increased its stake in 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 in the last quarter. Finally, Vanguard Group Inc. increased its stake in 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 in the last quarter. 30.36% of the stock is currently owned by institutional investors and hedge funds.
About Ideal Power
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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