Active Power Inc. (ACPW) Upgraded by Zacks Investment Research to Buy

Active Power Inc. (NASDAQ:ACPW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $0.50 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 26.58% from the stock’s current price.

According to Zacks, “Active Power, Inc. designs, manufactures and markets power quality products that provide the consistent, reliable electric power required by today’s digital economy. The company is the first company to commercialize a flywheel energy storage system that provides a highly reliable, low-cost and non-toxic replacement for lead-acid batteries used in conventional power quality installations. The company has developed a battery-free power quality system which is marketed under the Caterpillar brand name. “

In other Active Power news, major shareholder Perlus Microcap Fund L.P Pvam sold 81,774 shares of the company’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $0.38, for a total value of $31,074.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A hedge fund recently raised its stake in Active Power stock. Renaissance Technologies LLC increased its position in shares of Active Power Inc. (NASDAQ:ACPW) by 20.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 424,475 shares of the company’s stock after buying an additional 72,475 shares during the period. Renaissance Technologies LLC owned 1.84% of Active Power worth $412,000 at the end of the most recent reporting period.

Shares of Active Power (NASDAQ:ACPW) traded down 1.250% during midday trading on Thursday, reaching $0.395. The company had a trading volume of 13,440 shares. Active Power has a 12-month low of $0.30 and a 12-month high of $2.10. The stock’s 50 day moving average is $0.42 and its 200-day moving average is $0.77. The stock’s market capitalization is $9.13 million.

Active Power (NASDAQ:ACPW) last issued its earnings results on Tuesday, July 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The firm earned $10.73 million during the quarter, compared to analyst estimates of $7.20 million. On average, equities research analysts predict that Active Power will post ($0.37) earnings per share for the current fiscal year.

Active Power, Inc designs, manufactures, sells and services flywheel-based uninterruptible power supply (UPS) products that use kinetic energy to provide short-term power as a cleaner alternative to electro-chemical battery-based energy storage. The Company also designs, manufactures, sells and services modular infrastructure solutions (MIS) that integrate critical power components into a pre-packaged, purpose built enclosure.