Short Interest in Ideal Power Inc. (NASDAQ:IPWR) Increases By 11.2%

Ideal Power Inc. (NASDAQ:IPWR) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 38,600 shares, a growth of 11.2% from the September 30th total of 34,700 shares. Based on an average daily volume of 16,800 shares, the days-to-cover ratio is currently 2.3 days. Approximately 0.5% of the shares of the company are sold short.

Ideal Power Price Performance

Shares of NASDAQ:IPWR remained flat at $7.20 during trading on Thursday. The stock had a trading volume of 18,853 shares, compared to its average volume of 25,104. The business’s 50 day moving average price is $7.72 and its 200 day moving average price is $7.57. The company has a market capitalization of $55.40 million, a price-to-earnings ratio of -4.53 and a beta of 1.07. Ideal Power has a 1 year low of $6.52 and a 1 year high of $13.98.

Ideal Power (NASDAQ:IPWR) last announced its quarterly earnings data on Wednesday, August 14th. The industrial products company reported ($0.31) earnings per share for the quarter. Ideal Power had a negative return on equity of 62.80% and a negative net margin of 7,138.19%.

Hedge Funds Weigh In On Ideal Power

Institutional investors and hedge funds have recently bought and sold shares of the company. Bailard Inc. increased its stake in shares of Ideal Power by 13.8% in the second quarter. Bailard Inc. now owns 25,615 shares of the industrial products company’s stock valued at $181,000 after buying an additional 3,100 shares during the period. Virtu Financial LLC bought a new position in Ideal Power in the first quarter worth approximately $90,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Ideal Power by 1.9% in the first quarter. Vanguard Group Inc. now owns 268,926 shares of the industrial products company’s stock valued at $2,393,000 after purchasing an additional 5,004 shares in the last quarter. Institutional investors and hedge funds own 16.37% of the company’s stock.

About Ideal Power

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.