Ideal Power Inc. (NASDAQ:IPWR) Short Interest Down 5.7% in December

Ideal Power Inc. (NASDAQ:IPWR) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 29,800 shares, a decrease of 5.7% from the November 30th total of 31,600 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 29,500 shares, the days-to-cover ratio is presently 1.0 days.

Ideal Power Trading Up 0.3 %

Shares of NASDAQ IPWR opened at $7.55 on Wednesday. The company has a fifty day moving average price of $6.84 and a 200 day moving average price of $7.36. The firm has a market cap of $61.52 million, a PE ratio of -5.39 and a beta of 1.06. Ideal Power has a 1-year low of $5.61 and a 1-year high of $13.98.

Insider Buying and Selling

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

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 shares of Ideal Power Inc. (NASDAQ:IPWR) by 13.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 approximately 1.01% of Ideal Power worth $639,000 at the end of the most recent reporting period. 16.37% of the stock is owned by hedge funds and other institutional investors.

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.