Ideal Power Inc. (IPWR) Upgraded to “Buy” by Zacks Investment Research
Ideal Power Inc. (NASDAQ:IPWR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $5.50 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 10.89% from the stock’s current price.
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 target price on Ideal Power and gave the stock a “buy” rating in a report on Monday, September 19th. Six research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $12.10.
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Shares of Ideal Power (NASDAQ:IPWR) traded down 0.80% on Wednesday, hitting $4.96. The company’s stock had a trading volume of 2,166 shares. The company’s market cap is $47.40 million. Ideal Power has a 52 week low of $3.73 and a 52 week high of $9.65. The stock’s 50 day moving average is $5.09 and its 200-day moving average is $4.93.
Ideal Power (NASDAQ:IPWR) last announced its earnings results on Thursday, August 11th. The company reported ($0.26) EPS for the quarter, topping 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 anticipate that Ideal Power will post ($1.12) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of IPWR. Vanguard Group Inc. raised its position in Ideal Power by 0.7% in the second quarter. Vanguard Group Inc. now owns 138,596 shares of the company’s stock valued at $683,000 after buying an additional 900 shares during the period. Commonwealth Equity Services Inc raised its position in Ideal Power by 13.6% in the second quarter. Commonwealth Equity Services Inc now owns 37,600 shares of the company’s stock valued at $185,000 after buying an additional 4,501 shares during the period. BlackRock Fund Advisors raised its position in Ideal Power by 1,584.4% in the second quarter. BlackRock Fund Advisors now owns 21,560 shares of the company’s stock valued at $106,000 after buying an additional 20,280 shares during the period. Finally, S Squared Technology LLC raised its position in Ideal Power by 8.3% in the second quarter. S Squared Technology LLC now owns 586,704 shares of the company’s stock valued at $2,892,000 after buying an additional 44,904 shares during the period. Hedge funds and other institutional investors 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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