Ideal Power Inc. (NASDAQ:IPWR)’s share price dropped 8.3% on Thursday . The stock traded as low as $1.41 and last traded at $1.43. Approximately 550,500 shares traded hands during trading, a decline of 45% from the average daily volume of 991,950 shares. The stock had previously closed at $1.56.
IPWR has been the topic of several recent research reports. Zacks Investment Research raised shares of Ideal Power from a “hold” rating to a “buy” rating and set a $1.75 price objective on the stock in a research report on Wednesday, November 15th. B. Riley reaffirmed a “buy” rating and set a $5.00 price objective on shares of Ideal Power in a research report on Monday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price objective on shares of Ideal Power in a research report on Monday, November 13th. Finally, Roth Capital set a $2.00 price objective on shares of Ideal Power and gave the company a “hold” rating in a research report on Saturday, November 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Ideal Power presently has an average rating of “Buy” and a consensus target price of $4.13.
The stock has a market capitalization of $19.73, a PE ratio of -1.47 and a beta of 1.39.
Ideal Power (NASDAQ:IPWR) last released its quarterly earnings results on Thursday, November 9th. The industrial products company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.05. Ideal Power had a negative net margin of 839.03% and a negative return on equity of 83.89%. The company had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.61 million. The business’s quarterly revenue was up .0% on a year-over-year basis. equities research analysts anticipate that Ideal Power Inc. will post -0.83 earnings per share for the current fiscal year.
About Ideal Power
Ideal Power Inc (Ideal Power) designs, markets and sells electrical power conversion products using its Power Packet Switching Architecture (PPSA) technology. The Company’s PPSA is a power conversion technology that utilizes standardized hardware with application specific embedded software. It sells products to systems integrators for integration into their system, which enable end users to manage their electricity consumption by reducing demand charges or fossil fuel consumption, integrating renewable energy sources and form their own microgrid.
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