Ideal Power (NASDAQ:IPWR) Stock Passes Above 50 Day Moving Average – Here’s Why

Shares of Ideal Power Inc. (NASDAQ:IPWR) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.03 and traded as high as $5.43. Ideal Power shares last traded at $4.92, with a volume of 50,513 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IPWR. Wall Street Zen lowered Ideal Power to a “strong sell” rating in a report on Saturday. Westpark Capital restated a “hold” rating on shares of Ideal Power in a research note on Tuesday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ideal Power in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Ideal Power Stock Down 1.2%

The company has a market capitalization of $41.82 million, a PE ratio of -4.00 and a beta of 1.12. The business has a 50 day simple moving average of $5.03 and a 200 day simple moving average of $5.00.

Ideal Power (NASDAQ:IPWR) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.08). The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.02 million. Ideal Power had a negative net margin of 58,031.58% and a negative return on equity of 66.48%.

Institutional Investors Weigh In On Ideal Power

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in shares of Ideal Power in the 2nd quarter valued at $54,000. Baird Financial Group Inc. grew its stake in Ideal Power by 3.1% during the 1st quarter. Baird Financial Group Inc. now owns 287,055 shares of the industrial products company’s stock valued at $1,493,000 after purchasing an additional 8,713 shares during the last quarter. LeConte Wealth Management LLC purchased a new stake in Ideal Power during the 1st quarter valued at about $939,000. Finally, XTX Topco Ltd acquired a new position in shares of Ideal Power in the first quarter valued at about $54,000. 16.37% of the stock is currently owned by institutional investors and hedge funds.

Ideal Power Company Profile

Ideal Power Inc focuses on the development and commercialization of its bidirectional bipolar junction TRANsistor solid-state switch technology. It also offers SymCool Power Module designed to meet low conduction loss needs of the solid-state circuit breaker market. The company 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.