Ideal Power (NASDAQ:IPWR) Price Target Cut to $18.00 by Analysts at Benchmark

Ideal Power (NASDAQ:IPWR – Get Rating) had its price objective reduced by analysts at Benchmark from $28.00 to $18.00 in a report issued on Monday, The Fly reports. Benchmark’s target price indicates a potential upside of 63.64% from the company’s current price.

IPWR has been the topic of a number of other reports. TheStreet lowered shares of Ideal Power from a “c-” rating to a “d+” rating in a report on Friday, February 4th. StockNews.com upgraded shares of Ideal Power to a “sell” rating in a research report on Tuesday, March 1st.

Shares of Ideal Power stock opened at $11.00 on Monday. The firm has a market capitalization of $64.94 million, a PE ratio of -11.83 and a beta of 1.00. The firm’s 50 day moving average is $8.69 and its 200 day moving average is $9.96. Ideal Power has a 1 year low of $7.01 and a 1 year high of $18.08.

Ideal Power (NASDAQ:IPWR – Get Rating) last announced its quarterly earnings results on Monday, May 16th. The industrial products company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.09). Ideal Power had a negative net margin of 6.76% and a negative return on equity of 23.36%.

Several hedge funds and other institutional investors have recently bought and sold shares of IPWR. Gold Dragon Worldwide Asset Management Ltd bought a new position in Ideal Power during the first quarter valued at about $719,000. EAM Investors LLC bought a new position in Ideal Power during the third quarter worth about $1,065,000. AIGH Capital Management LLC boosted its position in Ideal Power by 38.4% during the fourth quarter. AIGH Capital Management LLC now owns 199,732 shares of the industrial products company’s stock worth $2,409,000 after purchasing an additional 55,385 shares during the period. Geode Capital Management LLC boosted its position in Ideal Power by 27.4% during the third quarter. Geode Capital Management LLC now owns 49,259 shares of the industrial products company’s stock worth $749,000 after purchasing an additional 10,597 shares during the period. Finally, Worth Venture Partners LLC boosted its position in Ideal Power by 14.3% during the first quarter. Worth Venture Partners LLC now owns 52,888 shares of the industrial products company’s stock worth $465,000 after purchasing an additional 6,613 shares during the period. Hedge funds and other institutional investors own 24.60% of the company’s stock.

About Ideal Power (Get Rating)

Ideal Power Inc focuses on the development and commercialization of its B-TRAN technology. It develops Bi-directional bi-polar junction TRANsistor solid state switch technology. The company was formerly known as Ideal Power Converters Inc and changed its name to Ideal Power Inc in July 2013. Ideal Power Inc was incorporated in 2007 and is headquartered in Austin, Texas.

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