Westpark Capital Initiates Coverage on Ideal Power (NASDAQ:IPWR)

Westpark Capital began coverage on shares of Ideal Power (NASDAQ:IPWR) in a research report issued on Friday,Benzinga reports. The brokerage set a “hold” rating on the industrial products company’s stock.

Ideal Power Price Performance

Ideal Power stock opened at $5.07 on Friday. Ideal Power has a 12 month low of $4.57 and a 12 month high of $9.69. The company has a market cap of $41.31 million, a price-to-earnings ratio of -3.62 and a beta of 1.05. The stock’s 50-day moving average is $6.00 and its 200-day moving average is $6.83.

Hedge Funds Weigh In On Ideal Power

A number of hedge funds have recently made changes to their positions in IPWR. Northern Trust Corp increased its holdings in Ideal Power by 34.4% in the 4th quarter. Northern Trust Corp now owns 13,461 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 3,443 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Ideal Power by 13.2% in the third quarter. Geode Capital Management LLC now owns 77,877 shares of the industrial products company’s stock worth $639,000 after buying an additional 9,075 shares during the period. Baird Financial Group Inc. grew its stake in shares of Ideal Power by 17.8% in the fourth quarter. Baird Financial Group Inc. now owns 278,342 shares of the industrial products company’s stock valued at $2,101,000 after buying an additional 42,032 shares in the last quarter. Finally, AIGH Capital Management LLC raised its holdings in shares of Ideal Power by 17.6% during the 4th quarter. AIGH Capital Management LLC now owns 823,315 shares of the industrial products company’s stock valued at $6,216,000 after buying an additional 123,315 shares during the period. Hedge funds and other institutional investors own 16.37% of the company’s stock.

Ideal Power Company Profile

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.