Ideal Power (NASDAQ:IPWR) Stock Price Crosses Below 200-Day Moving Average of $8.19

Ideal Power Inc. (NASDAQ:IPWR)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.19 and traded as low as $6.55. Ideal Power shares last traded at $6.95, with a volume of 13,418 shares traded.

Analysts Set New Price Targets

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

Ideal Power Stock Performance

The company has a market capitalization of $53.38 million, a PE ratio of -4.37 and a beta of 1.04. The company’s 50-day simple moving average is $7.29 and its 200-day simple moving average is $8.19.

Ideal Power (NASDAQ:IPWR) last released its quarterly earnings results on Wednesday, May 15th. The industrial products company reported ($0.39) earnings per share (EPS) for the quarter. The company had revenue of $0.08 million for the quarter. Ideal Power had a negative return on equity of 67.87% and a negative net margin of 3,560.07%.

Institutional Investors Weigh In On Ideal Power

An institutional investor recently bought a new position in Ideal Power stock. Virtu Financial LLC acquired a new stake in Ideal Power Inc. (NASDAQ:IPWR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,107 shares of the industrial products company’s stock, valued at approximately $90,000. Virtu Financial LLC owned 0.13% of Ideal Power as of its most recent filing with the Securities and Exchange Commission. Institutional investors 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.