Westpark Capital Reaffirms Hold Rating for Ideal Power (NASDAQ:IPWR)

Ideal Power (NASDAQ:IPWR)‘s stock had its “hold” rating restated by research analysts at Westpark Capital in a research report issued on Friday,Benzinga reports.

Ideal Power Trading Down 3.8%

Shares of IPWR opened at $5.03 on Friday. The business’s 50-day moving average price is $4.91 and its 200 day moving average price is $6.11. The stock has a market capitalization of $41.99 million, a P/E ratio of -3.59 and a beta of 1.19. Ideal Power has a 1-year low of $3.77 and a 1-year high of $9.69.

Ideal Power (NASDAQ:IPWR) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported ($0.30) earnings per share for the quarter. The company had revenue of $0.01 million during the quarter. Ideal Power had a negative return on equity of 55.69% and a negative net margin of 7,152.45%.

Hedge Funds Weigh In On Ideal Power

Several institutional investors and hedge funds have recently bought and sold shares of IPWR. XTX Topco Ltd purchased a new position in Ideal Power during the 1st quarter valued at about $54,000. Northern Trust Corp grew its stake in Ideal Power by 34.4% during the 4th quarter. Northern Trust Corp now owns 13,461 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 3,443 shares in the last quarter. LeConte Wealth Management LLC purchased a new position in Ideal Power during the 1st quarter valued at about $939,000. Baird Financial Group Inc. grew its stake in Ideal Power by 3.1% during the 1st quarter. Baird Financial Group Inc. now owns 287,055 shares of the industrial products company’s stock valued at $1,493,000 after acquiring an additional 8,713 shares in the last quarter. Finally, AIGH Capital Management LLC grew its stake in Ideal Power by 17.6% during the 4th quarter. AIGH Capital Management LLC now owns 823,315 shares of the industrial products company’s stock valued at $6,216,000 after acquiring an additional 123,315 shares in the last quarter. Hedge funds and other institutional investors own 16.37% of the company’s stock.

About Ideal Power

Ideal Power Inc focuses on the development and commercialization of its bidirectional bipolar junction TRANsistor solid-state switch technology. It also offers SymCool Power Module designed to meet low conduction loss needs of the solid-state circuit breaker market. The company serves electric and hybrid electric vehicles, electric vehicle charging, renewable energy and energy storage system power converters, uninterruptible power supplies for data centers, industrial motor drives, solid-state circuit breakers, distribution and transmission switches and controls, and other industrial and military markets.