Ideal Power Inc. (NASDAQ:IPWR) Sees Significant Drop in Short Interest

Ideal Power Inc. (NASDAQ:IPWR) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 75,500 shares, a decline of 6.3% from the March 15th total of 80,600 shares. Based on an average daily trading volume, of 37,500 shares, the short-interest ratio is presently 2.0 days. Approximately 1.1% of the shares of the company are sold short.

Institutional Trading of Ideal Power

Several hedge funds have recently bought and sold shares of IPWR. Citadel Advisors LLC purchased a new position in shares of Ideal Power during the 4th quarter valued at about $94,000. State Street Corp raised its stake in Ideal Power by 7.9% during the 1st quarter. State Street Corp now owns 18,047 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 1,319 shares during the period. Northern Trust Corp lifted its holdings in Ideal Power by 113.5% during the fourth quarter. Northern Trust Corp now owns 21,430 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 11,392 shares in the last quarter. Bailard Inc. boosted 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 purchasing an additional 3,181 shares during the period. Finally, UBS Group AG increased its stake in shares of Ideal Power by 3.9% in the fourth quarter. UBS Group AG now owns 52,006 shares of the industrial products company’s stock worth $404,000 after purchasing an additional 1,937 shares in the last quarter. Institutional investors own 16.37% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Benchmark lowered their target price on Ideal Power from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th.

Ideal Power Trading Down 4.4 %

Shares of NASDAQ IPWR opened at $7.61 on Thursday. Ideal Power has a 12-month low of $6.61 and a 12-month high of $13.98. The firm has a market capitalization of $56.09 million, a price-to-earnings ratio of -4.73 and a beta of 1.01. The firm has a 50 day moving average of $9.46 and a 200 day moving average of $8.66.

Ideal Power (NASDAQ:IPWR) last issued its quarterly earnings results on Thursday, February 29th. The industrial products company reported ($0.39) earnings per share for the quarter. The business had revenue of $0.06 million for the quarter. Ideal Power had a negative return on equity of 75.69% and a negative net margin of 4,977.50%.

Ideal Power Company Profile

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.