Zacks Investment Research upgraded shares of Ideal Power Inc. (NASDAQ:IPWR) from a hold rating to a buy rating in a report released on Wednesday. The firm currently has $1.75 price objective on the industrial products company’s 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. “

IPWR has been the subject of a number of other reports. ValuEngine raised shares of Ideal Power from a strong sell rating to a sell rating in a research note on Tuesday, July 25th. HC Wainwright reaffirmed a buy rating and issued a $4.00 target price on shares of Ideal Power in a research note on Monday, November 13th. Finally, B. Riley reaffirmed a buy rating and issued a $5.00 target price on shares of Ideal Power in a research note on Monday, November 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $4.46.

Shares of Ideal Power (NASDAQ:IPWR) opened at $1.49 on Wednesday. Ideal Power has a 1 year low of $1.45 and a 1 year high of $4.65.

Ideal Power (NASDAQ:IPWR) last announced its earnings results on Thursday, November 9th. The industrial products company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.05. The firm had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.61 million. Ideal Power had a negative net margin of 839.03% and a negative return on equity of 83.89%. The firm’s revenue was up .0% on a year-over-year basis. analysts expect that Ideal Power will post -0.84 earnings per share for the current fiscal year.

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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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