Ideal Power Inc. (NASDAQ:IPWR) Sees Large Decrease in Short Interest

by · The Cerbat Gem

Ideal Power Inc. (NASDAQ:IPWR – Get Free Report) was the target of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 34,700 shares, a decrease of 12.4% from the September 15th total of 39,600 shares. Based on an average daily volume of 16,200 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.5% of the shares of the stock are short sold.

Ideal Power Price Performance

Shares of IPWR traded up $0.14 during trading hours on Wednesday, hitting $7.61. The stock had a trading volume of 9,455 shares, compared to its average volume of 25,553. The company’s fifty day moving average is $7.93 and its two-hundred day moving average is $7.61. Ideal Power has a 52 week low of $6.52 and a 52 week high of $13.98. The stock has a market capitalization of $58.48 million, a price-to-earnings ratio of -4.74 and a beta of 1.07.

Ideal Power (NASDAQ:IPWR – Get Free Report) last posted its earnings results on Wednesday, August 14th. The industrial products company reported ($0.31) earnings per share for the quarter. Ideal Power had a negative return on equity of 62.80% and a negative net margin of 7,138.19%.

Institutional Investors Weigh In On Ideal Power

Hedge funds have recently added to or reduced their stakes in the stock. Bailard Inc. grew its holdings in Ideal Power by 13.8% during the 2nd quarter. Bailard Inc. now owns 25,615 shares of the industrial products company’s stock worth $181,000 after acquiring an additional 3,100 shares during the last quarter. Virtu Financial LLC bought a new stake in Ideal Power during the 1st quarter worth about $90,000. Finally, Vanguard Group Inc. grew its holdings in Ideal Power by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 268,926 shares of the industrial products company’s stock worth $2,393,000 after acquiring an additional 5,004 shares during the last quarter. Institutional investors own 16.37% of the company’s stock.

About Ideal Power

(Get Free Report)

Ideal Power Inc focuses on the development and commercialization of its bidirectional bipolar junction TRANsistor solid-state switch technology. It also offers SymCool Power Module designed to meet low conduction loss needs of the solid-state circuit breaker market. The company 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.

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