Ideal Power (NASDAQ:IPWR) Given New $14.00 Price Target at Benchmark

Ideal Power (NASDAQ:IPWR) had its price objective lowered by Benchmark from $18.00 to $14.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Ideal Power Price Performance

Shares of NASDAQ IPWR opened at $8.86 on Wednesday. The stock has a fifty day moving average price of $9.20 and a 200 day moving average price of $8.88. Ideal Power has a 1-year low of $6.61 and a 1-year high of $13.98. The company has a market cap of $52.72 million, a PE ratio of -5.50 and a beta of 1.03.

Ideal Power (NASDAQ:IPWR) last issued its earnings results on Thursday, February 29th. The industrial products company reported ($0.39) earnings per share (EPS) for the quarter. Ideal Power had a negative return on equity of 70.19% and a negative net margin of 4,977.50%. The business had revenue of $0.06 million for the quarter.

Hedge Funds Weigh In On Ideal Power

A number of large investors have recently bought and sold shares of the stock. Bailard Inc. increased its position in shares of Ideal Power by 16.5% in the third quarter. Bailard Inc. now owns 22,515 shares of the industrial products company’s stock worth $218,000 after acquiring an additional 3,181 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Ideal Power by 2.9% in the third quarter. Vanguard Group Inc. now owns 235,870 shares of the industrial products company’s stock valued at $2,441,000 after buying an additional 6,716 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Ideal Power by 10.8% in the third quarter. Baird Financial Group Inc. now owns 216,560 shares of the industrial products company’s stock valued at $2,241,000 after buying an additional 21,127 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Ideal Power by 1.3% during the 2nd quarter. BlackRock Inc. now owns 102,254 shares of the industrial products company’s stock valued at $1,207,000 after buying an additional 1,278 shares during the period. Finally, UBS Group AG lifted its position in Ideal Power by 2.3% during the 2nd quarter. UBS Group AG now owns 51,459 shares of the industrial products company’s stock worth $630,000 after acquiring an additional 1,162 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. The company offers SymCool Power Module designed to meet low conduction loss needs of the solid-state circuit breaker market. It 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.