Ideal Power Inc (NASDAQ:IPWR)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $1.98 and last traded at $2.00, with a volume of 145,859 shares changing hands. The stock had previously closed at $2.14.

Several equities analysts recently issued reports on the company. FBR & Co restated a “buy” rating and set a $6.00 price target on shares of Ideal Power in a research note on Monday, May 15th. Zacks Investment Research lowered Ideal Power from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. ValuEngine lowered Ideal Power from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Finally, HC Wainwright set a $4.00 price target on Ideal Power and gave the company a “buy” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $5.10.

The firm’s 50 day moving average price is $2.39 and its 200-day moving average price is $2.50. The company’s market cap is $32.33 million.

Ideal Power (NASDAQ:IPWR) last issued its quarterly earnings results on Thursday, August 10th. The industrial products company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.03. The company had revenue of $0.25 million during the quarter, compared to the consensus estimate of $0.51 million. Ideal Power had a negative return on equity of 77.22% and a negative net margin of 1,267.05%. On average, analysts predict that Ideal Power Inc will post ($0.89) EPS for the current fiscal year.

A hedge fund recently bought a new stake in Ideal Power stock. King Luther Capital Management Corp acquired a new position in shares of Ideal Power Inc (NASDAQ:IPWR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 59,100 shares of the industrial products company’s stock, valued at approximately $192,000. King Luther Capital Management Corp owned 0.42% of Ideal Power as of its most recent SEC filing. Hedge funds and other institutional investors own 26.99% of the company’s stock.

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Ideal Power Company Profile

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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