Ideal Power (NASDAQ:IPWR) Share Price Crosses Below 200-Day Moving Average After Earnings Miss

Ideal Power Inc. (NASDAQ:IPWR)’s share price passed below its two hundred day moving average during trading on Thursday following a weaker than expected earnings announcement. The stock has a two hundred day moving average of $5.18 and traded as low as $3.85. Ideal Power shares last traded at $5.18, with a volume of 1,254,084 shares changing hands.

The industrial products company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.08). Ideal Power had a negative net margin of 58,031.58% and a negative return on equity of 61.71%. The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.02 million.

Analyst Ratings Changes

Separately, Westpark Capital reaffirmed a “hold” rating on shares of Ideal Power in a report on Friday, May 16th.

Institutional Trading of Ideal Power

Hedge funds have recently made changes to their positions in the business. Northern Trust Corp grew its position in shares of Ideal Power by 34.4% during the fourth quarter. Northern Trust Corp now owns 13,461 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 3,443 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Ideal Power by 17.8% during the fourth quarter. Baird Financial Group Inc. now owns 278,342 shares of the industrial products company’s stock worth $2,101,000 after purchasing an additional 42,032 shares during the period. XTX Topco Ltd acquired a new stake in Ideal Power in the first quarter valued at $54,000. LeConte Wealth Management LLC acquired a new stake in Ideal Power in the first quarter valued at $939,000. Finally, Jane Street Group LLC acquired a new stake in Ideal Power in the second quarter valued at $54,000. Institutional investors and hedge funds own 16.37% of the company’s stock.

Ideal Power Stock Up 1.2%

The company has a market cap of $43.75 million, a price-to-earnings ratio of -4.26 and a beta of 0.90. The business has a fifty day simple moving average of $4.89 and a 200 day simple moving average of $5.17.

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.