Ideal Power (NASDAQ:IPWR) Stock Rating Reaffirmed by Benchmark

Ideal Power (NASDAQ:IPWR – Get Rating)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a research report issued on Thursday, Benzinga reports. They presently have a $18.00 price objective on the industrial products company’s stock. Benchmark’s target price points to a potential upside of 62.60% from the company’s current price.

Separately, StockNews.com assumed coverage on shares of Ideal Power in a report on Friday, March 3rd. They set a “sell” rating for the company.

Ideal Power Price Performance

Shares of IPWR opened at $11.07 on Thursday. Ideal Power has a 1-year low of $7.50 and a 1-year high of $14.89. The company has a 50-day moving average of $11.98 and a 200 day moving average of $11.90. The firm has a market capitalization of $65.65 million, a price-to-earnings ratio of -9.46 and a beta of 1.09.

Institutional Investors Weigh In On Ideal Power

Several large investors have recently modified their holdings of IPWR. State Street Corp raised its holdings in shares of Ideal Power by 7.9% in the 1st quarter. State Street Corp now owns 18,047 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 1,319 shares in the last quarter. Bailard Inc. purchased a new position in shares of Ideal Power in the 4th quarter worth approximately $191,000. Worth Venture Partners LLC grew its position in shares of Ideal Power by 14.3% in the 1st quarter. Worth Venture Partners LLC now owns 52,888 shares of the industrial products company’s stock worth $465,000 after buying an additional 6,613 shares during the last quarter. UBS Group AG grew its position in shares of Ideal Power by 2.6% in the 3rd quarter. UBS Group AG now owns 52,799 shares of the industrial products company’s stock worth $547,000 after buying an additional 1,340 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in shares of Ideal Power by 10.8% in the 3rd quarter. Baird Financial Group Inc. now owns 216,560 shares of the industrial products company’s stock worth $2,241,000 after buying an additional 21,127 shares during the last quarter. Institutional investors own 20.27% of the company’s stock.

About Ideal Power

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Ideal Power, Inc engages in the development of power converter solutions for photovoltaic generation, grid-storage and electrified vehicle charging. Its products include solar inverters, bi-directional battery, electric vehicle chargers, photovoltaic inverters and battery converters. The firm has developed the patented Power Packet Switching Architecture power conversion technology.