Ideal Power Inc. (NASDAQ:IPWR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $5.50 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 10.22% from the company’s previous close.
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 report on Monday, September 19th. Six research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $12.10.
Shares of Ideal Power (NASDAQ:IPWR) opened at 4.99 on Wednesday. The firm has a 50-day moving average price of $5.09 and a 200-day moving average price of $4.93. Ideal Power has a 52 week low of $3.73 and a 52 week high of $9.65. The firm’s market capitalization is $47.69 million.
Ideal Power (NASDAQ:IPWR) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the Zacks’ 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%. On average, equities analysts expect that Ideal Power will post ($1.12) earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. S Squared Technology LLC boosted its position in Ideal Power by 8.3% in the second quarter. S Squared Technology LLC now owns 586,704 shares of the company’s stock valued at $2,892,000 after buying an additional 44,904 shares in the last quarter. BlackRock Fund Advisors boosted its position in Ideal Power by 1,584.4% in the second quarter. BlackRock Fund Advisors now owns 21,560 shares of the company’s stock valued at $106,000 after buying an additional 20,280 shares in the last quarter. Vanguard Group Inc. boosted 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 in the last quarter. Finally, Commonwealth Equity Services Inc boosted its position in Ideal Power by 13.6% in the second quarter. Commonwealth Equity Services Inc now owns 37,600 shares of the company’s stock valued at $185,000 after buying an additional 4,501 shares in the last quarter. 30.15% of the stock is owned by institutional investors and hedge funds.
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.