Zacks Investment Research Lowers Ideal Power Inc. (IPWR) to Hold
Ideal Power Inc. (NASDAQ:IPWR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
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 shares of Ideal Power and gave the company a “buy” rating in a research note on Monday, September 19th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.10.
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Ideal Power (NASDAQ:IPWR) traded down 1.00% during midday trading on Monday, reaching $4.95. 4,442 shares of the company traded hands. Ideal Power has a 12 month low of $3.73 and a 12 month high of $9.65. The firm’s market capitalization is $47.31 million. The company’s 50-day moving average price is $5.09 and its 200 day moving average price is $4.94.
Ideal Power (NASDAQ:IPWR) last posted its quarterly earnings data on Thursday, August 11th. The company reported ($0.26) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.05. Ideal Power had a negative net margin of 418.53% and a negative return on equity of 72.36%. On average, equities analysts anticipate that Ideal Power will post ($1.12) earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the company. S Squared Technology LLC boosted 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 worth $2,892,000 after buying an additional 44,904 shares in the last quarter. BlackRock Fund Advisors boosted 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 worth $106,000 after buying an additional 20,280 shares in the last quarter. Commonwealth Equity Services Inc boosted 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 worth $185,000 after buying an additional 4,501 shares in the last quarter. Finally, Vanguard Group Inc. boosted 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 worth $683,000 after buying an additional 900 shares in the last quarter. 30.15% of the stock is owned by hedge funds and other institutional investors.
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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