Ideal Power Inc. (NASDAQ:IPWR) Director Laban E. Lesster Sells 3,291 Shares

Ideal Power Inc. (NASDAQ:IPWR) Director Laban E. Lesster sold 3,291 shares of the company’s stock in a transaction dated Friday, October 8th. The stock was sold at an average price of $14.24, for a total value of $46,863.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of IPWR stock traded up $0.61 on Wednesday, hitting $14.79. 27,444 shares of the stock were exchanged, compared to its average volume of 305,513. The firm has a market capitalization of $86.85 million, a P/E ratio of -7.78 and a beta of 0.97. The business has a 50-day moving average of $15.46 and a 200 day moving average of $13.00. 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 quarterly earnings results on Thursday, August 12th. The industrial products company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.08). Ideal Power had a negative net margin of 9.54% and a negative return on equity of 28.41%. The company had revenue of $84.71 million for the quarter.

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG boosted its position in Ideal Power by 356.8% during the first 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 during the last quarter. Royal Bank of Canada bought a new stake in Ideal Power in the first quarter valued at approximately $126,000. State Street Corp bought a new stake in Ideal Power in the second quarter valued at approximately $356,000. Geode Capital Management LLC bought a new stake in Ideal Power in the first quarter valued at approximately $366,000. Finally, Worth Venture Partners LLC bought a new stake in Ideal Power in the second quarter valued at approximately $427,000. 20.77% of the stock is owned by hedge funds and other institutional investors.

Ideal Power Company Profile

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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