Short Interest in Ideal Power Inc. (NASDAQ:IPWR) Declines By 6.3%

Ideal Power Inc. (NASDAQ:IPWR) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 75,500 shares, a decrease of 6.3% from the March 15th total of 80,600 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 37,500 shares, the days-to-cover ratio is presently 2.0 days.

Ideal Power Stock Performance

Shares of IPWR opened at $7.70 on Tuesday. Ideal Power has a 52-week low of $6.61 and a 52-week high of $13.98. The business’s fifty day moving average is $9.44 and its 200-day moving average is $8.68. The firm has a market cap of $56.76 million, a price-to-earnings ratio of -4.78 and a beta of 1.01.

Ideal Power (NASDAQ:IPWR) last released its quarterly earnings data on Thursday, February 29th. The industrial products company reported ($0.39) earnings per share for the quarter. Ideal Power had a negative net margin of 4,977.50% and a negative return on equity of 75.69%. The firm had revenue of $0.06 million for the quarter.

Institutional Investors Weigh In On Ideal Power

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Ideal Power by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 263,922 shares of the industrial products company’s stock worth $2,051,000 after buying an additional 27,947 shares during the period. Baird Financial Group Inc. increased its position in Ideal Power by 10.5% in the 4th quarter. Baird Financial Group Inc. now owns 239,328 shares of the industrial products company’s stock valued at $2,561,000 after buying an additional 22,768 shares in the last quarter. BlackRock Inc. increased its position in Ideal Power by 1.3% in the 2nd quarter. BlackRock Inc. now owns 102,254 shares of the industrial products company’s stock valued at $1,207,000 after buying an additional 1,278 shares in the last quarter. Worth Venture Partners LLC increased its holdings in Ideal Power by 14.3% during the 1st quarter. Worth Venture Partners LLC now owns 52,888 shares of the industrial products company’s stock worth $465,000 after purchasing an additional 6,613 shares in the last quarter. Finally, UBS Group AG increased its holdings in Ideal Power by 2.6% during the 3rd quarter. UBS Group AG now owns 52,799 shares of the industrial products company’s stock worth $547,000 after purchasing an additional 1,340 shares in the last quarter. Institutional investors and hedge funds own 16.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Benchmark reduced their price target on Ideal Power from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th.

About Ideal Power

Ideal Power Inc focuses on the development and commercialization of its bidirectional bipolar junction TRANsistor solid-state switch technology. The company offers SymCool Power Module designed to meet low conduction loss needs of the solid-state circuit breaker market. It serves electric and hybrid electric vehicles, electric vehicle charging, renewable energy and energy storage system power converters, uninterruptible power supplies for data centers, industrial motor drives, solid-state circuit breakers, distribution and transmission switches and controls, and other industrial and military markets.