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

Ideal Power Inc. (NASDAQ:IPWR) saw a large growth in short interest in February. As of February 27th, there was short interest totaling 54,112 shares, a growth of 152.3% from the February 12th total of 21,450 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily volume of 113,161 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 113,161 shares, the short-interest ratio is presently 0.5 days. Currently, 0.7% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ideal Power in a research note 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.75.

Ideal Power Stock Performance

Shares of IPWR stock opened at $3.16 on Friday. The stock’s 50-day moving average is $3.66 and its two-hundred day moving average is $4.28. Ideal Power has a 1 year low of $2.62 and a 1 year high of $6.90. The firm has a market cap of $27.11 million, a price-to-earnings ratio of -2.72 and a beta of 1.02.

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

Insider Transactions at Ideal Power

In related news, CEO David M. Somo acquired 90,909 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average price of $2.75 per share, for a total transaction of $249,999.75. Following the purchase, the chief executive officer owned 338,347 shares of the company’s stock, valued at $930,454.25. This represents a 36.74% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ideal Power

A number of institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in shares of Ideal Power in the 2nd quarter valued at $54,000. Vanguard Group Inc. boosted its stake in Ideal Power by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 359,089 shares of the industrial products company’s stock worth $1,806,000 after purchasing an additional 16,883 shares during the period. AlphaCore Capital LLC purchased a new position in Ideal Power during the 4th quarter worth $57,000. Susquehanna International Group LLP acquired a new position in Ideal Power in the third quarter valued at $132,000. Finally, Citadel Advisors LLC acquired a new position in Ideal Power in the third quarter valued at $160,000. 16.37% of the stock is owned by institutional investors and hedge funds.

About Ideal Power

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.