Baird Financial Group Inc. Acquires New Holdings in Ideal Power Inc. $IPWR

Key Points

• Baird Financial Group acquired 326,068 shares of Ideal Power in the second quarter, worth approximately $1.75 million and representing about 1.98% of the company. Institutional investors collectively own 16.37% of IPWR.
• Analyst sentiment remains mixed, with one Buy and one Sell rating; MarketBeat reports an overall “Hold” consensus and an average price target of $10.75.
• Ideal Power reported a quarterly loss of $0.20 per share, beating estimates of a $0.23 loss, while revenue of $0.01 million fell short of the $0.10 million consensus estimate. The stock opened at $4.03 and has traded between $2.62 and $9.30 over the past year.

Baird Financial Group Inc. acquired a new position in shares of Ideal Power Inc. (NASDAQ:IPWR - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 326,068 shares of the industrial products company's stock, valued at approximately $1,748,000. Baird Financial Group Inc. owned about 1.98% of Ideal Power at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in IPWR. AWM Investment Company Inc. acquired a new stake in shares of Ideal Power in the 2nd quarter worth $7,216,000. AIGH Capital Management LLC increased its position in Ideal Power by 140.2% during the 1st quarter. AIGH Capital Management LLC now owns 1,181,696 shares of the industrial products company's stock valued at $3,344,000 after buying an additional 689,707 shares in the last quarter. Finally, AlphaCore Capital LLC acquired a new position in Ideal Power during the 4th quarter valued at about $57,000. Institutional investors own 16.37% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on IPWR. Weiss Ratings raised Ideal Power from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Ideal Power from a "strong sell" rating to a "hold" rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $10.75.

Ideal Power Stock Up 2.0%

IPWR stock opened at $4.03 on Friday. Ideal Power Inc. has a 52-week low of $2.62 and a 52-week high of $9.30. The firm has a market cap of $66.21 million, a P/E ratio of -3.80 and a beta of 1.85. The company's 50-day simple moving average is $4.43 and its 200-day simple moving average is $4.57.

Ideal Power (NASDAQ:IPWR - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The industrial products company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($0.23) by $0.03. The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.10 million.

Ideal Power Company Profile

Ideal Power Inc NASDAQ: IPWR is a semiconductor company focused on developing advanced power-management technologies. Its core technology is B-TRAN™, a bidirectional bipolar junction transistor designed to control the flow of electricity in both directions with low conduction losses and fast switching performance.

The company is developing B-TRAN-based products for applications that require efficient, reliable power switching, including electric vehicle charging infrastructure, renewable-energy systems, battery energy storage, utility-grid equipment, industrial power systems and solid-state circuit breakers.

Want to see what other hedge funds are holding IPWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ideal Power Inc. (NASDAQ:IPWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.