Ideal Power (NASDAQ:IPWR) CEO Acquires $249,999.75 in Stock

Ideal Power Inc. (NASDAQ:IPWR) CEO David Somo purchased 90,909 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were purchased at an average cost of $2.75 per share, for a total transaction of $249,999.75. Following the completion of the acquisition, the chief executive officer directly owned 338,347 shares of the company’s stock, valued at $930,454.25. This represents a 36.74% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ideal Power Stock Performance

Shares of Ideal Power stock opened at $3.68 on Thursday. Ideal Power Inc. has a fifty-two week low of $2.62 and a fifty-two week high of $6.90. The company has a market cap of $31.54 million, a P/E ratio of -3.00 and a beta of 0.97. The firm has a 50-day simple moving average of $3.60 and a two-hundred day simple moving average of $4.39.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IPWR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Ideal Power in a report on Monday, December 29th. Westpark Capital upgraded shares of Ideal Power from a “hold” rating to a “buy” rating and set a $10.75 price target for the company in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.75.

Institutional Trading of Ideal Power

Hedge funds have recently bought and sold shares of the business. AMH Equity Ltd purchased a new position in shares of Ideal Power during the third quarter worth $785,000. AWM Investment Company Inc. lifted its stake in Ideal Power by 21.7% during the 4th quarter. AWM Investment Company Inc. now owns 786,094 shares of the industrial products company’s stock worth $2,429,000 after acquiring an additional 140,349 shares in the last quarter. Citadel Advisors LLC purchased a new position in Ideal Power during the 3rd quarter valued at about $160,000. Susquehanna International Group LLP acquired a new position in Ideal Power in the 3rd quarter valued at about $132,000. Finally, AlphaCore Capital LLC purchased a new stake in Ideal Power during the fourth quarter worth about $57,000. Institutional investors and hedge funds own 16.37% of the company’s stock.

Ideal Power Company Profile

Ideal Power Inc, based in Austin, Texas, specializes in the design and manufacture of advanced power conversion solutions for a range of energy applications. The company’s core technology is its proprietary Coupled Power Delivery (CPD) architecture, which enables efficient bi-directional conversion between DC and DC, as well as DC and AC power streams. These solutions are widely applied in renewable energy systems, energy storage, microgrids, and electric mobility platforms.

Ideal Power’s product lineup includes bi-directional DC converters, solid-state transformers, and intelligent power controllers.