Ideal Power (NASDAQ:IPWR) Stock Crosses Below 200 Day Moving Average of $8.49

Ideal Power Inc. (NASDAQ:IPWR)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.49 and traded as low as $7.21. Ideal Power shares last traded at $7.30, with a volume of 7,014 shares traded.

Analyst Upgrades and Downgrades

Separately, Benchmark decreased their price target on Ideal Power from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th.

Ideal Power Stock Performance

The business’s 50 day simple moving average is $8.03 and its 200-day simple moving average is $8.47. The company has a market cap of $56.83 million, a price-to-earnings ratio of -4.65 and a beta of 1.02.

Ideal Power (NASDAQ:IPWR) last issued its earnings results on Thursday, February 29th. The industrial products company reported ($0.39) earnings per share (EPS) for the quarter. Ideal Power had a negative net margin of 3,560.07% and a negative return on equity of 67.87%. The company had revenue of $0.06 million for the quarter.

Institutional Investors Weigh In On Ideal Power

A hedge fund recently bought a new stake in Ideal Power stock. Virtu Financial LLC purchased a new stake in Ideal Power Inc. (NASDAQ:IPWR) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,107 shares of the industrial products company’s stock, valued at approximately $90,000. Virtu Financial LLC owned about 0.13% of Ideal Power as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 16.37% of the company’s stock.

About Ideal Power

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.