Ideal Power Inc. (IPWR) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Ideal Power Inc. (NASDAQ:IPWR) from a hold rating to a buy rating in a research note released on Wednesday. Zacks Investment Research currently has $5.50 target price on the stock.
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 target on Ideal Power and gave the stock a buy rating in a research note on Monday, September 19th. Six investment analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus price target of $12.10.
Ideal Power (NASDAQ:IPWR) opened at 5.00 on Wednesday. Ideal Power has a 1-year low of $3.73 and a 1-year high of $9.65. The stock’s market cap is $47.79 million. The company’s 50-day moving average price is $5.09 and its 200-day moving average price is $4.93.
Ideal Power (NASDAQ:IPWR) last released its quarterly 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%. Analysts predict that Ideal Power will post ($1.12) EPS for the current year.
Several 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 shares of 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. BlackRock Fund Advisors raised its position in shares of 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. Finally, S Squared Technology LLC raised its position in shares of 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. 30.15% of the stock is owned by institutional investors.
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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