Ideal Power (NASDAQ:IPWR) Stock Price Passes Above 50 Day Moving Average of $11.67

Posted by MarketBeat News on Aug 2nd, 2022

Ideal Power Inc. (NASDAQ:IPWR – Get Rating) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.67 and traded as high as $12.00. Ideal Power shares last traded at $11.75, with a volume of 13,092 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IPWR shares. Benchmark decreased their price objective on Ideal Power from $28.00 to $18.00 in a research note on Monday, May 23rd. StockNews.com raised Ideal Power to a “sell” rating in a research note on Wednesday, July 27th.

Ideal Power Trading Down 1.7 %

The firm has a 50 day moving average of $11.67 and a 200-day moving average of $9.75. The company has a market cap of $69.37 million, a P/E ratio of -12.63 and a beta of 0.86.

Ideal Power (NASDAQ:IPWR – Get Rating) last issued its earnings results on Monday, May 16th. The industrial products company reported ($0.31) earnings per share (EPS) for the quarter. The business had revenue of $0.13 million for the quarter. Ideal Power had a negative net margin of 6.76% and a negative return on equity of 23.36%.

Hedge Funds Weigh In On Ideal Power

Several institutional investors have recently added to or reduced their stakes in the company. Worth Venture Partners LLC grew its holdings in Ideal Power by 14.3% during the 1st quarter. Worth Venture Partners LLC now owns 52,888 shares of the industrial products company’s stock valued at $465,000 after buying an additional 6,613 shares in the last quarter. State Street Corp grew its holdings in Ideal Power by 7.9% during the 1st quarter. State Street Corp now owns 18,047 shares of the industrial products company’s stock valued at $159,000 after buying an additional 1,319 shares in the last quarter. Gold Dragon Worldwide Asset Management Ltd purchased a new position in Ideal Power during the 1st quarter valued at approximately $719,000. AIGH Capital Management LLC grew its holdings in Ideal Power by 6.8% during the 1st quarter. AIGH Capital Management LLC now owns 213,368 shares of the industrial products company’s stock valued at $1,877,000 after buying an additional 13,636 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Ideal Power by 1.8% during the 4th quarter. Baird Financial Group Inc. now owns 200,131 shares of the industrial products company’s stock valued at $2,414,000 after buying an additional 3,456 shares in the last quarter. Hedge funds and other institutional investors own 24.60% of the company’s stock.

About Ideal Power

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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.