Short Interest in Ideal Power Inc. (NASDAQ:IPWR) Expands By 10.1%

Ideal Power Inc. (NASDAQ:IPWR) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 32,800 shares, a growth of 10.1% from the December 15th total of 29,800 shares. Based on an average daily volume of 33,200 shares, the short-interest ratio is currently 1.0 days. Currently, 0.4% of the shares of the company are short sold.

Insider Activity

In other Ideal Power news, CEO Daniel Brdar bought 4,500 shares of the stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average cost of $5.91 per share, for a total transaction of $26,595.00. Following the completion of the transaction, the chief executive officer now owns 179,526 shares in the company, valued at approximately $1,060,998.66. The trade was a 2.57 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.02% of the company’s stock.

Hedge Funds Weigh In On Ideal Power

An institutional investor recently raised its position in Ideal Power stock. Geode Capital Management LLC raised its stake in Ideal Power Inc. (NASDAQ:IPWR) by 13.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,877 shares of the industrial products company’s stock after purchasing an additional 9,075 shares during the quarter. Geode Capital Management LLC owned 1.01% of Ideal Power worth $639,000 at the end of the most recent reporting period. 16.37% of the stock is currently owned by institutional investors and hedge funds.

Ideal Power Stock Performance

Ideal Power stock traded down $0.31 during midday trading on Friday, hitting $7.51. 30,134 shares of the company’s stock were exchanged, compared to its average volume of 39,094. The stock has a market cap of $61.21 million, a price-to-earnings ratio of -5.36 and a beta of 1.03. Ideal Power has a 12-month low of $5.61 and a 12-month high of $13.98. The firm’s 50 day simple moving average is $6.96 and its 200 day simple moving average is $7.43.

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.