Ideal Power Inc. (NASDAQ:IPWR) Director Laban E. Lesster Sells 3,430 Shares

Ideal Power Inc. (NASDAQ:IPWR) Director Laban E. Lesster sold 3,430 shares of the stock in a transaction on Monday, October 11th. The shares were sold at an average price of $14.21, for a total transaction of $48,740.30. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of IPWR opened at $14.79 on Thursday. Ideal Power Inc. has a twelve month low of $5.25 and a twelve month high of $24.95. The company has a market cap of $86.85 million, a P/E ratio of -7.78 and a beta of 0.97. The company’s fifty day simple moving average is $15.46 and its 200-day simple moving average is $13.00.

Ideal Power (NASDAQ:IPWR) last announced its earnings results on Thursday, August 12th. The industrial products company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.08). Ideal Power had a negative net margin of 9.54% and a negative return on equity of 28.41%. The firm had revenue of $84.71 million during the quarter.

Institutional investors and hedge funds have recently made changes to their positions in the company. AIGH Capital Management LLC purchased a new stake in shares of Ideal Power in the second quarter valued at $1,835,000. Baird Financial Group Inc. purchased a new stake in shares of Ideal Power in the second quarter valued at $430,000. State Street Corp purchased a new stake in shares of Ideal Power in the second quarter valued at $356,000. Geode Capital Management LLC raised its stake in shares of Ideal Power by 39.6% in the second quarter. Geode Capital Management LLC now owns 38,662 shares of the industrial products company’s stock valued at $491,000 after acquiring an additional 10,958 shares during the period. Finally, Vanguard Group Inc. increased its stake in Ideal Power by 389.9% in the 2nd quarter. Vanguard Group Inc. now owns 238,218 shares of the industrial products company’s stock worth $3,028,000 after buying an additional 189,592 shares during the period. 20.77% of the stock is currently owned by institutional investors and hedge funds.

About Ideal Power

Ideal Power, Inc engages in the development of power converter solutions for photovoltaic generation, grid-storage and electrified vehicle charging. Its products include solar inverters, bi-directional battery, electric vehicle chargers, photovoltaic inverters and battery converters. The firm has developed the patented Power Packet Switching Architecture power conversion technology.

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