Ideal Power (NASDAQ:IPWR) Posts Earnings Results

Ideal Power (NASDAQ:IPWR) posted its quarterly earnings results on Thursday. The industrial products company reported ($0.32) earnings per share for the quarter, FiscalAI reports. The company had revenue of $0.02 million during the quarter. Ideal Power had a negative net margin of 58,031.58% and a negative return on equity of 66.48%.

Ideal Power Stock Performance

Shares of IPWR traded down $0.82 during mid-day trading on Thursday, reaching $4.25. 72,055 shares of the company were exchanged, compared to its average volume of 46,142. The business has a 50 day simple moving average of $5.28 and a two-hundred day simple moving average of $5.07. The stock has a market capitalization of $36.12 million, a PE ratio of -3.46 and a beta of 1.10. Ideal Power has a 52 week low of $3.77 and a 52 week high of $8.62.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IPWR. Wall Street Zen lowered shares of Ideal Power to a “strong sell” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ideal Power in a report on Wednesday, November 5th. Finally, Westpark Capital upgraded Ideal Power from a “hold” rating to a “buy” rating and set a $10.75 price objective on the stock in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new stake in shares of Ideal Power in the first quarter worth approximately $54,000. Jane Street Group LLC purchased a new stake in Ideal Power in the 2nd quarter valued at $54,000. AMH Equity Ltd bought a new position in Ideal Power during the 3rd quarter valued at $785,000. LeConte Wealth Management LLC purchased a new position in Ideal Power during the 1st quarter worth $939,000. Finally, Baird Financial Group Inc. grew its stake in shares of Ideal Power by 3.1% in the 1st quarter. Baird Financial Group Inc. now owns 287,055 shares of the industrial products company’s stock worth $1,493,000 after acquiring an additional 8,713 shares in the last quarter. 16.37% of the stock is owned by institutional investors and hedge funds.

About Ideal Power

Ideal Power Inc focuses on the development and commercialization of its bidirectional bipolar junction TRANsistor solid-state switch technology. It also offers SymCool Power Module designed to meet low conduction loss needs of the solid-state circuit breaker market. The company 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.