StockNews.com Begins Coverage on Ideal Power (NASDAQ:IPWR)

Investment analysts at StockNews.com initiated coverage on shares of Ideal Power (NASDAQ:IPWR – Get Rating) in a research report issued to clients and investors on Saturday. The firm set a “sell” rating on the industrial products company’s stock.

Separately, Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Ideal Power in a research report on Thursday.

Ideal Power Stock Performance

Shares of NASDAQ IPWR opened at $11.07 on Friday. Ideal Power has a 52-week low of $7.50 and a 52-week high of $14.89. The firm has a 50 day moving average price of $11.98 and a two-hundred day moving average price of $11.90. The stock has a market cap of $65.65 million, a P/E 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 increased its position in shares of Ideal Power by 7.9% during the first quarter. State Street Corp now owns 18,047 shares of the industrial products company’s stock worth $159,000 after buying an additional 1,319 shares during the period. Bailard Inc. acquired a new stake in shares of Ideal Power during the fourth quarter worth $191,000. Worth Venture Partners LLC increased its position in shares of Ideal Power by 14.3% during the first 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 period. UBS Group AG increased its position in shares of Ideal Power by 2.6% during the third 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 period. Finally, Baird Financial Group Inc. increased its position in shares of Ideal Power by 10.8% during the third 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 period. 20.27% of the stock is currently owned by institutional investors and hedge funds.

Ideal Power Company Profile

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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.