Ideal Power (NASDAQ:IPWR) CEO Buys $249,999.75 in Stock

Ideal Power Inc. (NASDAQ:IPWR) CEO David Somo bought 90,909 shares of the stock in a transaction on Wednesday, February 25th. The shares were acquired at an average cost of $2.75 per share, with a total value of $249,999.75. Following the purchase, the chief executive officer owned 338,347 shares of the company’s stock, valued at approximately $930,454.25. This represents a 36.74% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Ideal Power Trading Down 2.7%

IPWR opened at $3.59 on Friday. The company has a market cap of $30.80 million, a P/E ratio of -2.90 and a beta of 0.97. The company’s 50 day moving average is $3.62 and its 200-day moving average is $4.38. Ideal Power Inc. has a 1-year low of $2.62 and a 1-year high of $6.90.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Ideal Power in a research report on Monday, December 29th. Westpark Capital raised Ideal Power from a “hold” rating to a “buy” rating and set a $10.75 price target on the stock in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.75.

Institutional Trading of Ideal Power

Several institutional investors have recently added to or reduced their stakes in IPWR. Jane Street Group LLC acquired a new stake in Ideal Power during the 2nd quarter valued at approximately $54,000. AlphaCore Capital LLC bought a new stake in shares of Ideal Power in the 4th quarter valued at $57,000. Susquehanna International Group LLP acquired a new stake in shares of Ideal Power during the third quarter worth $132,000. Citadel Advisors LLC bought a new position in Ideal Power during the third quarter worth $160,000. Finally, AMH Equity Ltd bought a new position in Ideal Power during the third quarter worth $785,000. 16.37% of the stock is currently owned by institutional investors.

About Ideal Power

Ideal Power Inc, based in Austin, Texas, specializes in the design and manufacture of advanced power conversion solutions for a range of energy applications. The company’s core technology is its proprietary Coupled Power Delivery (CPD) architecture, which enables efficient bi-directional conversion between DC and DC, as well as DC and AC power streams. These solutions are widely applied in renewable energy systems, energy storage, microgrids, and electric mobility platforms.

Ideal Power’s product lineup includes bi-directional DC converters, solid-state transformers, and intelligent power controllers.