Ideal Power (IPWR) Downgraded by Zacks Investment Research

Ideal Power (NASDAQ:IPWR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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. “

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A number of other equities research analysts have also weighed in on the stock. ValuEngine upgraded shares of Ideal Power from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. B. Riley restated a “hold” rating on shares of Ideal Power in a research note on Monday, May 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $2.19.

Shares of IPWR opened at $0.96 on Wednesday. The firm has a market cap of $14.42 million, a price-to-earnings ratio of -1.23 and a beta of 1.11. Ideal Power has a 1-year low of $0.92 and a 1-year high of $3.29.

Ideal Power (NASDAQ:IPWR) last announced its earnings results on Thursday, May 10th. The industrial products company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). The business had revenue of $0.18 million during the quarter, compared to analyst estimates of $0.32 million. Ideal Power had a negative net margin of 833.16% and a negative return on equity of 75.12%. equities research analysts predict that Ideal Power will post -0.56 earnings per share for the current year.

Ideal Power Company Profile

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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