Ideal Power Inc (IPWR) Given Buy Rating at FBR & Co
Ideal Power Inc (NASDAQ:IPWR)‘s stock had its “buy” rating reissued by analysts at FBR & Co in a report released on Monday. They currently have a $6.00 target price on the industrial products company’s stock. FBR & Co’s price target suggests a potential upside of 136.22% from the stock’s current price.
The analysts wrote, “Still waiting for customers to roll out storage. Ideal Power reported 1Q17 revenues and EPS that missed our and consensus estimates as the energy storage market is still in its early rollout stage and the ramp remains hard to predict. As positive as the reset of the California self-generation incentive program (SGIP) was for energy storage in mid 2016, it has not yet accelerated deal closures with Ideal Power’s partners. We believe 2017 remains a heavily back-half-loaded year, driven by the commercial rollout of the new Stabiliti 30 kW product for stand-alone storage and SunDial solar inverter product for the solar plus storage market. The rollout was slated to begin in 2Q, but the scope of the primary customer’s needs has expanded, pushing out the launch until 3Q17, but potentially expanding the addressable market. Longer term, the B-TRAN power semiconductor device, EV charging initiatives, and international expansion position the company well beyond 2017. While we do not believe the opportunity set is diminished, the timing of adoption is largely out of Ideal’s control.””
Other equities research analysts have also recently issued research reports about the stock. HC Wainwright restated a “buy” rating on shares of Ideal Power in a research report on Tuesday, February 28th. Roth Capital set a $4.00 price target on shares of Ideal Power and gave the stock a “hold” rating in a research report on Monday, March 20th. Zacks Investment Research upgraded shares of Ideal Power from a “sell” rating to a “hold” rating in a research report on Friday, February 17th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $6.00 price target (down previously from $14.00) on shares of Ideal Power in a research report on Wednesday, March 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Ideal Power presently has an average rating of “Buy” and a consensus price target of $5.38.
Ideal Power (NASDAQ:IPWR) traded up 8.55% during trading on Monday, reaching $2.54. 21,301 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $2.63 and its 200-day moving average is $3.20. Ideal Power has a 12-month low of $2.00 and a 12-month high of $5.60. The company’s market cap is $35.55 million.
Ideal Power (NASDAQ:IPWR) last announced its quarterly earnings results on Monday, February 27th. The industrial products company reported ($0.29) earnings per share for the quarter, hitting the consensus estimate of ($0.29). Ideal Power had a negative net margin of 504.67% and a negative return on equity of 85.08%. The company had revenue of $0.37 million for the quarter, compared to analysts’ expectations of $1.35 million. Analysts predict that Ideal Power will post ($0.79) EPS for the current fiscal year.
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In other news, CEO Daniel Brdar acquired 19,700 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was bought at an average cost of $2.54 per share, with a total value of $50,038.00. Following the completion of the purchase, the chief executive officer now directly owns 24,350 shares of the company’s stock, valued at $61,849. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lon E. Bell acquired 78,800 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were purchased at an average cost of $2.54 per share, with a total value of $200,152.00. Following the completion of the purchase, the director now directly owns 132,661 shares of the company’s stock, valued at $336,958.94. The disclosure for this purchase can be found here. Insiders purchased 500,700 shares of company stock worth $1,271,778 in the last 90 days. 10.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Ideal Power by 4.1% in the first quarter. Vanguard Group Inc. now owns 145,805 shares of the industrial products company’s stock valued at $474,000 after buying an additional 5,709 shares during the last quarter. Geode Capital Management LLC raised its position in Ideal Power by 179.5% in the first quarter. Geode Capital Management LLC now owns 59,328 shares of the industrial products company’s stock valued at $192,000 after buying an additional 38,104 shares during the last quarter. Finally, King Luther Capital Management Corp purchased a new position in Ideal Power during the first quarter valued at approximately $192,000. 29.14% of the stock is owned by institutional investors.
About Ideal Power
Ideal Power Inc (Ideal Power) designs, markets and sells electrical power conversion products using its Power Packet Switching Architecture (PPSA) technology. The Company’s PPSA is a power conversion technology that utilizes standardized hardware with application specific embedded software. It sells products to systems integrators for integration into their system, which enable end users to manage their electricity consumption by reducing demand charges or fossil fuel consumption, integrating renewable energy sources and form their own microgrid.
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