Ideal Power Inc. (IPWR) Lifted to Buy at Zacks Investment Research
Ideal Power Inc. (NASDAQ:IPWR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $5.50 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 10.89% from the stock’s previous close.
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 report on Monday, September 19th. Six investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $12.10.
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Ideal Power (NASDAQ:IPWR) traded down 0.80% during midday trading on Wednesday, reaching $4.96. 2,166 shares of the company’s stock were exchanged. Ideal Power has a 12 month low of $3.73 and a 12 month high of $9.65. The company has a 50 day moving average price of $5.09 and a 200 day moving average price of $4.93. The company’s market cap is $47.40 million.
Ideal Power (NASDAQ:IPWR) last released its quarterly earnings results on Thursday, August 11th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts anticipate that Ideal Power will post ($1.12) EPS for the current year.
A number of large investors have recently bought and sold shares of the stock. BlackRock Fund Advisors boosted 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 during the period. Commonwealth Equity Services Inc boosted 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 during the period. Vanguard Group Inc. boosted 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 during the period. Finally, S Squared Technology LLC boosted 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 during the period. Institutional investors and hedge funds own 30.15% of the company’s stock.
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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