Ideal Power Inc. (NASDAQ:IPWR) Sees Significant Growth in Short Interest

by · The Markets Daily

Ideal Power Inc. (NASDAQ:IPWRGet Free Report) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 72,177 shares, an increase of 33.4% from the February 26th total of 54,112 shares. Based on an average daily trading volume, of 56,018 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.9% of the company’s shares are sold short.

Insider Transactions at Ideal Power

In other Ideal Power news, CEO David M. Somo acquired 90,909 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was bought at an average price of $2.75 per share, with a total value of $249,999.75. Following the completion of the transaction, the chief executive officer directly owned 338,347 shares of the company’s stock, valued at approximately $930,454.25. The trade was a 36.74% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Ideal Power

Large investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in shares of Ideal Power in the second quarter worth about $54,000. AlphaCore Capital LLC acquired a new stake in shares of Ideal Power during the fourth quarter worth approximately $57,000. Susquehanna International Group LLP bought a new stake in shares of Ideal Power in the third quarter worth $132,000. Citadel Advisors LLC bought a new position in Ideal Power during the 3rd quarter valued at $160,000. Finally, AMH Equity Ltd bought a new stake in shares of Ideal Power in the 3rd quarter worth about $785,000. 16.37% of the stock is currently owned by institutional investors and hedge funds.

Ideal Power Trading Down 7.4%

NASDAQ:IPWR traded down $0.23 during trading hours on Friday, hitting $2.88. The stock had a trading volume of 59,529 shares, compared to its average volume of 54,256. The company has a market cap of $24.71 million, a PE ratio of -2.48 and a beta of 1.02. The business has a 50 day simple moving average of $3.58 and a two-hundred day simple moving average of $4.13. Ideal Power has a 1-year low of $2.62 and a 1-year high of $6.90.

Ideal Power (NASDAQ:IPWRGet Free Report) last posted its earnings results on Tuesday, March 10th. The industrial products company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.10. Ideal Power had a negative net margin of 26,225.58% and a negative return on equity of 82.78%.

Analysts Set New Price Targets

Several research firms recently weighed in on IPWR. Weiss Ratings restated a “sell (d-)” rating on shares of Ideal Power in a report on Monday, December 29th. Wall Street Zen lowered Ideal Power from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ideal Power currently has a consensus rating of “Hold” and a consensus target price of $10.75.

Read Our Latest Analysis on Ideal Power

About Ideal Power

(Get Free Report)

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.

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