Ideal Power Inc. (NASDAQ:IPWR) Director Laban E. Lesster Sells 879 Shares

Ideal Power Inc. (NASDAQ:IPWR) Director Laban E. Lesster sold 879 shares of the firm’s stock in a transaction that occurred on Wednesday, October 13th. The shares were sold at an average price of $14.11, for a total transaction of $12,402.69. The sale was disclosed in a filing with the SEC, which is available through this link.

Shares of IPWR traded up $0.61 on Wednesday, hitting $14.79. 27,444 shares of the stock traded hands, compared to its average volume of 305,513. The company has a market capitalization of $86.85 million, a PE ratio of -7.78 and a beta of 0.97. The business has a 50 day simple moving average of $15.46 and a 200 day simple moving average of $13.00. Ideal Power Inc. has a one year low of $5.25 and a one year high of $24.95.

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

Large investors have recently bought and sold shares of the business. UBS Group AG grew its position in Ideal Power by 356.8% in the 1st quarter. UBS Group AG now owns 7,300 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 5,702 shares during the period. Royal Bank of Canada bought a new stake in Ideal Power in the 1st quarter worth approximately $126,000. State Street Corp bought a new stake in Ideal Power in the 2nd quarter worth approximately $356,000. Geode Capital Management LLC bought a new stake in Ideal Power in the 1st quarter worth approximately $366,000. Finally, Worth Venture Partners LLC bought a new stake in Ideal Power in the 2nd quarter worth approximately $427,000. 20.77% of the stock is 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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