Benchmark Lowers Ideal Power (NASDAQ:IPWR) Price Target to $14.00

Ideal Power (NASDAQ:IPWR) had its price target cut by equities research analysts at Benchmark from $18.00 to $14.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Benchmark’s target price suggests a potential upside of 57.30% from the stock’s current price.

Ideal Power Trading Up 0.5 %

NASDAQ:IPWR opened at $8.90 on Wednesday. The stock’s 50-day moving average is $9.23 and its 200-day moving average is $8.88. The stock has a market cap of $52.96 million, a P/E ratio of -5.53 and a beta of 1.03. Ideal Power has a 1-year low of $6.61 and a 1-year high of $13.98.

Ideal Power (NASDAQ:IPWR) last posted its quarterly earnings data on Thursday, February 29th. The industrial products company reported ($0.39) EPS for the quarter. The company had revenue of $0.06 million during the quarter. Ideal Power had a negative return on equity of 70.19% and a negative net margin of 4,977.50%.

Hedge Funds Weigh In On Ideal Power

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC acquired a new position in shares of Ideal Power in the fourth quarter worth approximately $94,000. State Street Corp lifted its stake in 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 buying an additional 1,319 shares during the period. Northern Trust Corp lifted its stake in Ideal Power by 113.5% in the fourth quarter. Northern Trust Corp now owns 21,430 shares of the industrial products company’s stock valued at $167,000 after buying an additional 11,392 shares during the period. Bailard Inc. lifted its stake in Ideal Power by 16.5% in the third quarter. Bailard Inc. now owns 22,515 shares of the industrial products company’s stock valued at $218,000 after buying an additional 3,181 shares during the period. Finally, UBS Group AG lifted its stake in Ideal Power by 3.9% in the fourth quarter. UBS Group AG now owns 52,006 shares of the industrial products company’s stock valued at $404,000 after buying an additional 1,937 shares during the period. 16.37% of the stock is owned by institutional investors and hedge funds.

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.