Ideal Power (NASDAQ:IPWR) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Ideal Power (NASDAQ:IPWR) posted its quarterly earnings data on Wednesday. The industrial products company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02), FiscalAI reports. Ideal Power had a negative net margin of 58,031.58% and a negative return on equity of 66.48%. The company had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.02 million.

Ideal Power Trading Down 26.8%

Shares of NASDAQ:IPWR traded down $1.36 on Thursday, hitting $3.71. The company had a trading volume of 123,902 shares, compared to its average volume of 46,222. The company has a market cap of $31.53 million, a PE ratio of -3.02 and a beta of 1.10. The business has a 50 day moving average of $5.28 and a 200 day moving average of $5.07. Ideal Power has a 52-week low of $3.63 and a 52-week high of $8.62.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IPWR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ideal Power in a report on Wednesday, November 5th. Westpark Capital raised Ideal Power from a “hold” rating to a “buy” rating and set a $10.75 price target for the company in a report on Tuesday. Finally, Wall Street Zen lowered Ideal Power to a “strong sell” rating in a report on Saturday, October 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.75.

Hedge Funds Weigh In On Ideal Power

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Ideal Power by 4.9% during the third quarter. Vanguard Group Inc. now owns 359,089 shares of the industrial products company’s stock valued at $1,806,000 after buying an additional 16,883 shares during the period. Baird Financial Group Inc. raised its holdings in Ideal Power by 3.1% in the 1st quarter. Baird Financial Group Inc. now owns 287,055 shares of the industrial products company’s stock valued at $1,493,000 after acquiring an additional 8,713 shares during the last quarter. LeConte Wealth Management LLC purchased a new position in shares of Ideal Power during the 1st quarter worth $939,000. AMH Equity Ltd acquired a new stake in Ideal Power in the 3rd quarter worth about $785,000. Finally, Jane Street Group LLC acquired a new stake in shares of Ideal Power in the second quarter worth approximately $54,000. Institutional investors and hedge funds own 16.37% of the company’s stock.

About Ideal Power

Ideal Power Inc focuses on the development and commercialization of its bidirectional bipolar junction TRANsistor solid-state switch technology. It also offers SymCool Power Module designed to meet low conduction loss needs of the solid-state circuit breaker market. The company 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.