Ideal Power (NASDAQ:IPWR) CEO David Somo Acquires 90,909 Shares of Stock

Ideal Power Inc. (NASDAQ:IPWR) CEO David Somo purchased 90,909 shares of Ideal Power stock in a transaction dated Wednesday, February 25th. The stock was bought at an average cost of $2.75 per share, with a total value of $249,999.75. Following the completion of the purchase, the chief executive officer owned 338,347 shares in the company, valued at approximately $930,454.25. This trade represents a 36.74% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ideal Power Price Performance

NASDAQ IPWR opened at $3.69 on Friday. Ideal Power Inc. has a 12 month low of $2.62 and a 12 month high of $6.90. The firm has a market capitalization of $31.66 million, a PE ratio of -2.98 and a beta of 0.97. The company’s 50 day simple moving average is $3.61 and its 200 day simple moving average is $4.38.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IPWR shares. Westpark Capital raised Ideal Power from a “hold” rating to a “buy” rating and set a $10.75 target price for the company in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Ideal Power in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.75.

Hedge Funds Weigh In On Ideal Power

A number of hedge funds have recently modified their holdings of IPWR. Jane Street Group LLC purchased a new stake in shares of Ideal Power during the second quarter valued at $54,000. AlphaCore Capital LLC acquired a new stake in Ideal Power during the 4th quarter worth about $57,000. Susquehanna International Group LLP purchased a new stake in Ideal Power during the third quarter valued at about $132,000. Citadel Advisors LLC acquired a new position in shares of Ideal Power in the third quarter worth about $160,000. Finally, AMH Equity Ltd acquired a new position in shares of Ideal Power in the third quarter worth about $785,000. 16.37% of the stock is currently owned by institutional investors and hedge funds.

Ideal Power Company Profile

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.