Ideal Power Inc. (NASDAQ:IPWR) Director Sells $48,740.30 in Stock

Ideal Power Inc. (NASDAQ:IPWR) Director Laban E. Lesster sold 3,430 shares of the firm’s stock in a transaction dated Monday, October 11th. The stock was sold at an average price of $14.21, for a total value of $48,740.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of IPWR stock traded up $0.61 during trading on Wednesday, reaching $14.79. The company had a trading volume of 27,444 shares, compared to its average volume of 305,513. The firm’s 50 day simple moving average is $15.46 and its two-hundred day simple moving average is $13.00. Ideal Power Inc. has a one year low of $5.25 and a one year high of $24.95. The company has a market capitalization of $86.85 million, a PE ratio of -7.78 and a beta of 0.97.

Ideal Power (NASDAQ:IPWR) last issued its quarterly earnings data on Thursday, August 12th. The industrial products company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.08). Ideal Power had a negative net margin of 9.54% and a negative return on equity of 28.41%. The company had revenue of $84.71 million during the quarter.

Several hedge funds have recently modified their holdings of IPWR. UBS Group AG raised its stake in shares of Ideal Power by 356.8% in the 1st quarter. UBS Group AG now owns 7,300 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 5,702 shares in the last quarter. Royal Bank of Canada bought a new position in shares of Ideal Power in the 1st quarter valued at approximately $126,000. State Street Corp bought a new position in shares of Ideal Power in the 2nd quarter valued at approximately $356,000. Geode Capital Management LLC bought a new position in shares of Ideal Power in the 1st quarter valued at approximately $366,000. Finally, Worth Venture Partners LLC bought a new position in shares of Ideal Power in the 2nd quarter valued at approximately $427,000. 20.77% of the stock is currently owned by institutional investors and hedge funds.

Ideal Power Company Profile

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.

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