Insider Selling: Ideal Power Inc. (NASDAQ:IPWR) Director Sells 3,430 Shares of Stock

Ideal Power Inc. (NASDAQ:IPWR) Director Laban E. Lesster sold 3,430 shares of the firm’s stock in a transaction on Monday, October 11th. The shares were sold at an average price of $14.21, for a total value of $48,740.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of IPWR stock traded up $0.61 during trading hours on Wednesday, reaching $14.79. The company’s stock had a trading volume of 27,444 shares, compared to its average volume of 305,513. The firm’s 50 day simple moving average is $15.46 and its 200-day simple moving average is $13.00. The company has a market capitalization of $86.85 million, a price-to-earnings ratio of -7.78 and a beta of 0.97. Ideal Power Inc. has a fifty-two week low of $5.25 and a fifty-two week high of $24.95.

Ideal Power (NASDAQ:IPWR) last issued its earnings results on Thursday, August 12th. The industrial products company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.08). The business had revenue of $84.71 million during the quarter. Ideal Power had a negative net margin of 9.54% and a negative return on equity of 28.41%.

Hedge funds have recently modified their holdings of the business. UBS Group AG boosted its holdings in shares of Ideal Power by 356.8% in the 1st quarter. UBS Group AG now owns 7,300 shares of the industrial products company’s stock valued at $97,000 after purchasing an additional 5,702 shares in the last quarter. Royal Bank of Canada acquired a new stake in shares of Ideal Power during the 1st quarter valued at $126,000. State Street Corp acquired a new stake in shares of Ideal Power during the 2nd quarter valued at $356,000. Geode Capital Management LLC acquired a new stake in shares of Ideal Power during the 1st quarter valued at $366,000. Finally, Worth Venture Partners LLC acquired a new stake in shares of Ideal Power during the 2nd quarter valued at $427,000. 20.77% of the stock is currently owned by hedge funds and other institutional investors.

About Ideal Power

Ideal Power, Inc engages in the development of power converter solutions for photovoltaic generation, grid-storage and electrified vehicle charging. Its products include solar inverters, bi-directional battery, electric vehicle chargers, photovoltaic inverters and battery converters. The firm has developed the patented Power Packet Switching Architecture power conversion technology.

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