Ideal Power (NASDAQ:IPWR) Raised to Hold at Wall Street Zen

Ideal Power (NASDAQ:IPWR) was upgraded by Wall Street Zen from a “strong sell” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings upgraded shares of Ideal Power from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.75.

Ideal Power Stock Performance

NASDAQ:IPWR opened at $5.23 on Friday. The firm has a market cap of $85.88 million, a price-to-earnings ratio of -4.93 and a beta of 1.82. The company’s 50-day moving average is $4.80 and its two-hundred day moving average is $4.41. Ideal Power has a 12-month low of $2.62 and a 12-month high of $9.30.

Ideal Power (NASDAQ:IPWR) last released its quarterly earnings results on Thursday, August 13th. The industrial products company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.03. The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.10 million.

Hedge Funds Weigh In On Ideal Power

Several large investors have recently added to or reduced their stakes in the business. AWM Investment Company Inc. acquired a new stake in Ideal Power in the 2nd quarter worth about $7,216,000. AIGH Capital Management LLC increased its stake in shares of Ideal Power by 140.2% during the 1st quarter. AIGH Capital Management LLC now owns 1,181,696 shares of the industrial products company’s stock valued at $3,344,000 after acquiring an additional 689,707 shares during the last quarter. AlphaCore Capital LLC acquired a new position in shares of Ideal Power during the 4th quarter valued at about $57,000. Susquehanna International Group LLP purchased a new position in shares of Ideal Power during the 3rd quarter worth about $132,000. Finally, Citadel Advisors LLC purchased a new position in shares of Ideal Power during the 3rd quarter worth about $160,000. 16.37% of the stock is currently owned by hedge funds and other institutional investors.

About Ideal Power

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.