Ideal Power Inc. (NASDAQ:IPWR - Get Free Report) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 26,700 shares, a decline of 18.6% from the December 31st total of 32,800 shares. Approximately 0.3% of the company's shares are sold short. Based on an average daily trading volume, of 34,900 shares, the short-interest ratio is presently 0.8 days.
Ideal Power Stock Performance
Shares of IPWR stock traded up $0.07 during trading on Wednesday, hitting $7.07. 6,876 shares of the company were exchanged, compared to its average volume of 26,655. The firm has a market capitalization of $57.58 million, a price-to-earnings ratio of -5.05 and a beta of 1.02. The business's 50-day simple moving average is $7.09 and its 200 day simple moving average is $7.39. Ideal Power has a twelve month low of $5.61 and a twelve month high of $13.98.
Insiders Place Their Bets
In other Ideal Power news, CEO Daniel Brdar bought 4,500 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average price of $5.91 per share, with a total value of $26,595.00. Following the completion of the transaction, the chief executive officer now directly owns 179,526 shares in the company, valued at approximately $1,060,998.66. This represents a 2.57 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.02% of the company's stock.
Institutional Investors Weigh In On Ideal Power
An institutional investor recently raised its position in Ideal Power stock. Geode Capital Management LLC raised its holdings in Ideal Power Inc. (NASDAQ:IPWR - Free Report) by 13.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,877 shares of the industrial products company's stock after acquiring an additional 9,075 shares during the quarter. Geode Capital Management LLC owned about 1.01% of Ideal Power worth $639,000 at the end of the most recent quarter. Institutional investors and hedge funds own 16.37% of the company's stock.
Ideal Power Company Profile
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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.
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