Ideal Power (IPWR) Upgraded 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 Thursday. The brokerage currently has a $0.75 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 4.17% from the stock’s current price.

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. “

A number of other analysts also recently weighed in on the stock. ValuEngine raised shares of Ideal Power from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. B. Riley reaffirmed a “hold” rating on shares of Ideal Power in a research report on Monday, May 14th. Finally, HC Wainwright set a $2.00 target price on shares of Ideal Power and gave the stock a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Ideal Power has an average rating of “Hold” and a consensus price target of $1.44.

NASDAQ:IPWR opened at $0.72 on Thursday. The stock has a market capitalization of $9.80 million, a PE ratio of -0.92 and a beta of 0.94. Ideal Power has a 1-year low of $0.65 and a 1-year high of $2.94.

Ideal Power (NASDAQ:IPWR) last released its earnings results on Monday, August 13th. The industrial products company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.04. The firm had revenue of $0.62 million for the quarter, compared to the consensus estimate of $0.77 million. Ideal Power had a negative net margin of 833.16% and a negative return on equity of 75.12%. research analysts anticipate that Ideal Power will post -0.63 earnings per share for the current fiscal 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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