Oppenheimer Thinks Ideal Power’s Stock is Going to Recover

By Jason Carr

Oppenheimer analyst Colin Rusch reiterated a Buy rating on Ideal Power (NASDAQ: IPWR) yesterday and set a price target of $14. The company’s shares opened today at $4.17, close to its 52-week low of $3.73.

Rusch observed:

“IPWR continues to move steadily toward its revenue ramp. With its B-TRAN technology approaching commercialization and with order activity for its energy storage converter products firming up, we believe IPWR is approaching an important inflection point. We expect the company will enjoy significant GM expansion with a modest amount of revenue and quickly ramp toward breakeven. We are encouraged to see the company preserving cash while leveraging its current product portfolio into new product configurations. We expect the next inflection point for the stock will be confirmation of its B-TRAN testing.”

According to TipRanks.com, Rusch is a 4-star analyst with an average return of 5.7% and a 44.3% success rate. Rusch covers the Technology sector, focusing on stocks such as Trimble Navigation Limited, SolarEdge Technologies, and Ultra Clean Holdings.

Currently, the analyst consensus on Ideal Power is Moderate Buy and the average price target is $14, representing a 235.7% upside.

In a report issued on November 2, Roth Capital also reiterated a Buy rating on the stock with a $14 price target.

The company has a one year high of $8.55 and a one year low of $3.73. Currently, Ideal Power has an average volume of 16.77K.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IPWR in relation to earlier this year. Most recently, in May 2016, Ryan O’Keefe, the SVP, Bus. Development of IPWR bought 1,000 shares for a total of $4,020.

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. It has developed the patented Power Packet Switching ArchitectureT power conversion technology. The company was founded by William C. Alexander on May 17, 2007 and is headquartered in Austin, TX.