Shares of Ideal Power Inc. (NASDAQ:IPWR) reached a new 52-week low on Wednesday . The stock traded as low as $1.98 and last traded at $2.00, with a volume of 145,859 shares trading hands. The stock had previously closed at $2.14.
IPWR has been the subject of several analyst reports. ValuEngine raised shares of Ideal Power from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. FBR & Co reissued a “buy” rating and issued a $6.00 price target on shares of Ideal Power in a research note on Monday, May 15th. Zacks Investment Research cut shares of Ideal Power from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, HC Wainwright set a $4.00 price target on shares of Ideal Power and gave the company a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $5.10.
The company has a 50-day moving average of $2.36 and a 200 day moving average of $2.50. The company’s market cap is $29.28 million.
Ideal Power (NASDAQ:IPWR) last released its quarterly earnings data on Thursday, August 10th. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by $0.03. Ideal Power had a negative return on equity of 95.13% and a negative net margin of 798.79%. The business had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $0.51 million. Equities research analysts anticipate that Ideal Power Inc. will post ($0.86) earnings per share for the current year.
A hedge fund recently bought a new stake in Ideal Power stock. King Luther Capital Management Corp acquired a new stake in 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 approximately 0.42% of Ideal Power at the end of the most recent quarter. 26.78% of the stock is owned by institutional investors and hedge funds.
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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