Ideal Power Inc. (NASDAQ:IPWR) Short Interest Up 208.0% in February

Ideal Power Inc. (NASDAQ:IPWR) was the target of a large growth in short interest in the month of February. As of February 29th, there was short interest totalling 73,300 shares, a growth of 208.0% from the February 14th total of 23,800 shares. Based on an average trading volume of 29,000 shares, the short-interest ratio is presently 2.5 days. Approximately 1.3% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of Ideal Power in a report on Thursday, November 16th.

Hedge Funds Weigh In On Ideal Power

Institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC purchased a new stake in Ideal Power in the fourth quarter valued at approximately $94,000. State Street Corp raised its stake in Ideal Power by 7.9% in the 1st quarter. State Street Corp now owns 18,047 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 1,319 shares during the last quarter. Northern Trust Corp raised its stake in Ideal Power by 113.5% in the 4th quarter. Northern Trust Corp now owns 21,430 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 11,392 shares during the last quarter. Bailard Inc. increased its stake in shares of Ideal Power by 16.5% in the 3rd quarter. Bailard Inc. now owns 22,515 shares of the industrial products company’s stock worth $218,000 after acquiring an additional 3,181 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Ideal Power by 3.9% in the 4th quarter. UBS Group AG now owns 52,006 shares of the industrial products company’s stock worth $404,000 after acquiring an additional 1,937 shares during the last quarter. Hedge funds and other institutional investors own 18.43% of the company’s stock.

Ideal Power Price Performance

Shares of NASDAQ:IPWR traded down $0.99 on Wednesday, hitting $12.11. 14,284 shares of the company’s stock were exchanged, compared to its average volume of 29,722. Ideal Power has a 12 month low of $6.61 and a 12 month high of $13.98. The stock has a market capitalization of $72.05 million, a price-to-earnings ratio of -7.52 and a beta of 1.03. The business’s 50 day simple moving average is $8.82 and its two-hundred day simple moving average is $8.91.

About Ideal Power

Ideal Power Inc focuses on the development and commercialization of its bidirectional bipolar junction TRANsistor solid-state switch technology. The company offers SymCool Power Module designed to meet low conduction loss needs of the solid-state circuit breaker market. It serves electric and hybrid electric vehicles, electric vehicle charging, renewable energy and energy storage system power converters, uninterruptible power supplies for data centers, industrial motor drives, solid-state circuit breakers, distribution and transmission switches and controls, and other industrial and military markets.