Zacks Investment Research Lowers Ideal Power Inc. (NASDAQ:IPWR) to Sell

Zacks Investment Research downgraded shares of Ideal Power Inc. (NASDAQ:IPWR) from a hold rating to a sell rating in a report issued on Wednesday.

According to Zacks, “Ideal Power, Inc. is engaged in development of a novel, patented power conversion technology called Power Packet Switching Architecture(TM). The company also provides photovoltaic inverters and battery converters for grid storage and electrified vehicle fast-charging infrastructure. In addition, it offers hybrid power conversion systems and power switches. Ideal Power, Inc. is based in Spicewood, Texas. “

Several other brokerages have also recently issued reports on IPWR. Roth Capital set a $4.00 target price on shares of Ideal Power and gave the stock a hold rating in a report on Monday, March 20th. FBR & Co restated a buy rating and issued a $6.00 target price on shares of Ideal Power in a report on Monday, May 15th. Finally, ValuEngine cut shares of Ideal Power from a sell rating to a strong sell rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Ideal Power has a consensus rating of Hold and an average target price of $5.38.

Ideal Power (IPWR) traded down 1.26% during midday trading on Wednesday, hitting $2.36. 33,831 shares of the company were exchanged. The stock has a 50 day moving average of $2.34 and a 200-day moving average of $2.68. Ideal Power has a 1-year low of $2.00 and a 1-year high of $5.60. The stock’s market capitalization is $33.03 million.

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An institutional investor recently bought a new position in Ideal Power stock. King Luther Capital Management Corp bought a new stake in Ideal Power Inc. (NASDAQ:IPWR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 59,100 shares of the industrial products company’s stock, valued at approximately $192,000. King Luther Capital Management Corp owned approximately 0.42% of Ideal Power as of its most recent filing with the SEC. 26.78% of the stock is currently owned by institutional investors.

Ideal Power Company Profile

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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