Ideal Power Inc. (NASDAQ:IPWR) Announces Earnings Results, Misses Estimates By $0.03 EPS
Ideal Power Inc. (NASDAQ:IPWR) announced its earnings results on Thursday. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.03, Morningstar.com reports. Ideal Power had a negative return on equity of 95.13% and a negative net margin of 798.79%. The company had revenue of $0.25 million for the quarter, compared to the consensus estimate of $0.51 million.
Ideal Power (NASDAQ IPWR) traded up 3.24% during midday trading on Friday, reaching $2.23. 188,562 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $2.36 and a 200 day moving average price of $2.50. The company’s market cap is $31.21 million. Ideal Power has a 12 month low of $1.91 and a 12 month high of $5.60.
IPWR has been the topic of a number of research reports. HC Wainwright set a $4.00 target price on shares of Ideal Power and gave the stock a “buy” rating in a research report on Friday. ValuEngine upgraded shares of Ideal Power from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of Ideal Power from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, FBR & Co reiterated a “buy” rating and set a $6.00 price target on shares of Ideal Power in a research note on Monday, May 15th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $5.10.
An institutional investor recently bought a new position 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 Form 13F filing with the SEC. The institutional investor acquired 59,100 shares of the industrial products company’s stock, valued at approximately $192,000. King Luther Capital Management Corp owned 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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