Ideal Power Inc. (NASDAQ:IPWR) Sees Large Decline in Short Interest

Ideal Power Inc. (NASDAQ:IPWR) saw a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 26,700 shares, a decrease of 18.6% from the December 31st total of 32,800 shares. Based on an average trading volume of 34,900 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.3% of the company’s shares are sold short.

Insiders Place Their Bets

In related news, CEO Daniel Brdar acquired 4,500 shares of Ideal Power stock in a transaction on Tuesday, November 19th. The shares were bought at an average price of $5.91 per share, for a total transaction of $26,595.00. Following the completion of the purchase, the chief executive officer now directly owns 179,526 shares in the company, valued at $1,060,998.66. This trade represents a 2.57 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ideal Power

A hedge fund recently raised its stake in Ideal Power stock. Geode Capital Management LLC raised its position in shares of Ideal Power Inc. (NASDAQ:IPWR) by 13.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,877 shares of the industrial products company’s stock after buying 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. 16.37% of the stock is owned by institutional investors and hedge funds.

Ideal Power Price Performance

NASDAQ IPWR traded down $0.30 on Friday, reaching $6.83. The company had a trading volume of 7,840 shares, compared to its average volume of 28,248. The firm has a market capitalization of $55.66 million, a PE ratio of -4.88 and a beta of 1.03. The firm has a 50-day moving average of $7.04 and a 200-day moving average of $7.41. Ideal Power has a 1 year low of $5.61 and a 1 year high of $13.98.

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.