Insider Buying: Ideal Power (NASDAQ:IPWR) CEO Acquires 90,909 Shares of Stock

Ideal Power Inc. (NASDAQ:IPWR) CEO David Somo bought 90,909 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were acquired at an average cost of $2.75 per share, with a total value of $249,999.75. Following the purchase, the chief executive officer directly owned 338,347 shares of the company’s stock, valued at approximately $930,454.25. This represents a 36.74% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ideal Power Stock Performance

NASDAQ IPWR opened at $3.68 on Thursday. The company has a market capitalization of $31.54 million, a price-to-earnings ratio of -3.00 and a beta of 0.97. Ideal Power Inc. has a one year low of $2.62 and a one year high of $6.90. The stock has a 50-day moving average of $3.60 and a 200 day moving average of $4.39.

Institutional Trading of Ideal Power

A number of hedge funds have recently added to or reduced their stakes in IPWR. Jane Street Group LLC acquired a new stake in shares of Ideal Power in the second quarter worth $54,000. AlphaCore Capital LLC acquired a new position in shares of Ideal Power in the 4th quarter valued at about $57,000. Susquehanna International Group LLP purchased a new stake in shares of Ideal Power in the third quarter worth about $132,000. Citadel Advisors LLC acquired a new stake in Ideal Power during the third quarter worth about $160,000. Finally, AMH Equity Ltd acquired a new stake in Ideal Power during the third quarter worth about $785,000. 16.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on IPWR shares. Westpark Capital upgraded Ideal Power from a “hold” rating to a “buy” rating and set a $10.75 price objective for the company in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ideal Power in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.75.

Ideal Power Company Profile

Ideal Power Inc, based in Austin, Texas, specializes in the design and manufacture of advanced power conversion solutions for a range of energy applications. The company’s core technology is its proprietary Coupled Power Delivery (CPD) architecture, which enables efficient bi-directional conversion between DC and DC, as well as DC and AC power streams. These solutions are widely applied in renewable energy systems, energy storage, microgrids, and electric mobility platforms.

Ideal Power’s product lineup includes bi-directional DC converters, solid-state transformers, and intelligent power controllers.