Ideal Power Inc. (IPWR) Upgraded by Zacks Investment Research to “Buy”

Ideal Power Inc. (NASDAQ:IPWR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $1.75 price target on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 15.89% from the company’s current price.

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 equities research analysts have also commented on the stock. B. Riley restated a “buy” rating and issued a $5.00 price target on shares of Ideal Power in a report on Monday. HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Ideal Power in a report on Monday. Finally, ValuEngine lowered shares of Ideal Power from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $4.46.

Shares of Ideal Power (NASDAQ IPWR) opened at $1.51 on Wednesday. Ideal Power has a twelve month low of $1.45 and a twelve month high of $4.98.

Ideal Power (NASDAQ:IPWR) last announced its quarterly earnings data on Thursday, November 9th. The industrial products company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.05. Ideal Power had a negative net margin of 839.03% and a negative return on equity of 83.89%. The company had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.61 million. The business’s revenue was up .0% compared to the same quarter last year. equities research analysts forecast that Ideal Power will post -0.89 earnings per share for the current year.

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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.

Analyst Recommendations for Ideal Power (NASDAQ:IPWR)

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