Ideal Power (IPWR) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Ideal Power (NASDAQ:IPWR) from a strong-buy rating to a hold rating in a research note published 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 research firms have also issued reports on IPWR. ValuEngine lowered Ideal Power from a hold rating to a sell rating in a report on Monday, July 2nd. B. Riley set a $2.00 price target on Ideal Power and gave the company a hold rating in a report on Tuesday, August 14th. Finally, HC Wainwright set a $2.00 price target on Ideal Power and gave the company a buy rating in a report on Tuesday, August 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $1.44.

Ideal Power stock opened at $0.56 on Wednesday. The firm has a market cap of $8.92 million, a P/E ratio of -0.72 and a beta of 0.85. Ideal Power has a one year low of $0.50 and a one year high of $2.85.

Ideal Power (NASDAQ:IPWR) last released its quarterly earnings results on Monday, August 13th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.04. Ideal Power had a negative return on equity of 72.98% and a negative net margin of 527.25%. The business had revenue of $0.62 million during the quarter, compared to analyst estimates of $0.77 million. As a group, equities analysts forecast that Ideal Power will post -0.53 EPS for the current year.

About Ideal Power

Ideal Power Inc develops power conversion solutions with a focus on solar and storage, microgrid, and stand-alone energy storage applications. It operates through two Divisions, Power Conversion Systems and B-TRAN. The Power Conversion Systems Division focuses on its Power Packet Switching Architecture technology.

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