Ideal Power Inc. (NASDAQ:IPWR) Sees Significant Growth in Short Interest

Ideal Power Inc. (NASDAQ:IPWR) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 72,177 shares, a growth of 33.4% from the February 26th total of 54,112 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily volume of 56,018 shares, the short-interest ratio is presently 1.3 days.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IPWR shares. Wall Street Zen downgraded Ideal Power from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Ideal Power in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ideal Power has an average rating of “Hold” and a consensus target price of $10.75.

Ideal Power Stock Down 7.4%

IPWR stock traded down $0.23 during midday trading on Friday, reaching $2.88. The company had a trading volume of 59,529 shares, compared to its average volume of 54,256. The firm has a market capitalization of $24.71 million, a PE ratio of -2.48 and a beta of 1.02. The stock has a 50 day moving average price of $3.58 and a 200 day moving average price of $4.13. Ideal Power has a fifty-two week low of $2.62 and a fifty-two week high of $6.90.

Ideal Power (NASDAQ:IPWR) last issued its quarterly earnings data on Tuesday, March 10th. The industrial products company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.10. Ideal Power had a negative return on equity of 82.78% and a negative net margin of 26,225.58%.

Insiders Place Their Bets

In other news, CEO David M. Somo acquired 90,909 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $2.75 per share, with a total value of $249,999.75. Following the completion of the acquisition, the chief executive officer directly owned 338,347 shares in the company, valued at $930,454.25. This represents a 36.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Ideal Power

Several hedge funds have recently bought and sold shares of IPWR. Jane Street Group LLC acquired a new position in shares of Ideal Power during the second quarter valued at approximately $54,000. Vanguard Group Inc. lifted its position in Ideal Power by 4.9% in the third quarter. Vanguard Group Inc. now owns 359,089 shares of the industrial products company’s stock worth $1,806,000 after purchasing an additional 16,883 shares during the period. AlphaCore Capital LLC bought a new position in Ideal Power during the 4th quarter valued at $57,000. Susquehanna International Group LLP bought a new position in Ideal Power during the 3rd quarter valued at $132,000. Finally, Citadel Advisors LLC acquired a new position in shares of Ideal Power during the 3rd quarter valued at $160,000. 16.37% of the stock is currently owned by institutional investors.

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.