Ideal Power (NASDAQ:IPWR) Raised to Buy at Zacks Investment Research

Ideal Power (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, November 15th. The brokerage presently has a $1.75 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 2.34% from the stock’s previous close.

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. “

Other analysts also recently issued research reports about the stock. ValuEngine raised shares of Ideal Power from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 25th. HC Wainwright restated a “buy” rating and issued a $4.00 price objective on shares of Ideal Power in a research note on Monday, November 13th. Finally, B. Riley reiterated a “buy” rating and set a $5.00 price target on shares of Ideal Power in a research report on Monday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Ideal Power presently has a consensus rating of “Buy” and a consensus price target of $4.13.

Shares of Ideal Power (IPWR) opened at $1.71 on Wednesday. Ideal Power has a one year low of $1.40 and a one year high of $4.53.

Ideal Power (NASDAQ:IPWR) last released its quarterly earnings results on Thursday, November 9th. The industrial products company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.05. The firm had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.61 million. Ideal Power had a negative net margin of 839.03% and a negative return on equity of 83.89%. The business’s revenue was up .0% on a year-over-year basis. research analysts forecast that Ideal Power will post -0.84 earnings per share for the current fiscal 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.

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