H.C. Wainwright Thinks Ideal Power’s Stock is Going to Recover

By Jason Carr

In a report released today, Amit Dayal from H.C. Wainwright assigned a Buy rating to Ideal Power (NASDAQ: IPWR), with a price target of $4. The company’s shares closed on Friday at $2.04, close to its 52-week low of $1.91.

According to TipRanks.com, Dayal is ranked 0 out of 5 stars with an average return of -5.1% and a 34.3% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Revolution Lighting Technologies, Ascent Solar Technologies, and Ballard Power Systems.

Currently, the analyst consensus on Ideal Power is Strong Buy and the average price target is $3.80, representing an 86.3% upside.

In a report released today, B.Riley FBR also maintained a Buy rating on the stock with a $5 price target.

The company has a one-year high of $4.98 and a one-year low of $1.91. Currently, Ideal Power has an average volume of 96.24K.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.