Ideal Power Inc. (NASDAQ:IPWR) Short Interest Down 6.3% in March

Ideal Power Inc. (NASDAQ:IPWR) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 75,500 shares, a decline of 6.3% from the March 15th total of 80,600 shares. Based on an average daily trading volume, of 37,500 shares, the short-interest ratio is presently 2.0 days. Approximately 1.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Ideal Power

Several institutional investors have recently added to or reduced their stakes in IPWR. Citadel Advisors LLC purchased a new stake in shares of Ideal Power during the 4th quarter valued at approximately $94,000. State Street Corp boosted its position in shares of Ideal Power by 7.9% in the first quarter. State Street Corp now owns 18,047 shares of the industrial products company’s stock valued at $159,000 after acquiring an additional 1,319 shares during the period. Northern Trust Corp increased its holdings in Ideal Power by 113.5% during the 4th quarter. Northern Trust Corp now owns 21,430 shares of the industrial products company’s stock worth $167,000 after acquiring an additional 11,392 shares during the period. Bailard Inc. lifted its stake in 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 purchasing an additional 3,181 shares in the last quarter. Finally, UBS Group AG boosted its holdings in Ideal Power by 3.9% in the 4th quarter. UBS Group AG now owns 52,006 shares of the industrial products company’s stock valued at $404,000 after purchasing an additional 1,937 shares during the period. 16.37% of the stock is owned by hedge funds and other institutional investors.

Ideal Power Stock Performance

IPWR opened at $7.61 on Thursday. The firm has a market cap of $56.09 million, a P/E ratio of -4.73 and a beta of 1.01. Ideal Power has a fifty-two week low of $6.61 and a fifty-two week high of $13.98. The firm has a 50-day moving average of $9.46 and a 200 day moving average of $8.66.

Ideal Power (NASDAQ:IPWR) last posted its quarterly earnings results on Thursday, February 29th. The industrial products company reported ($0.39) EPS for the quarter. Ideal Power had a negative return on equity of 75.69% and a negative net margin of 4,977.50%. The company had revenue of $0.06 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Benchmark dropped their price target on Ideal Power from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th.

Ideal Power Company Profile

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.