Ideal Power (IPWR) Gets a Hold Rating from B.Riley FBR

By Austin Angelo

In a report released today, Carter Driscoll from B.Riley FBR maintained a Hold rating on Ideal Power (NASDAQ: IPWR), with a price target of $2. The company’s shares opened today at $0.80, close to its 52-week low of $0.65.

Driscoll wrote:

“Ideal Power (IPWR) delivered a 2Q18 beat with revenues, gross margin, and net loss better than our expectations, driven by better-than-expected sales of its SunDial Plus inverters for solar plus storage applications. The company shipped 2 MW of its SunDial Plus inverters for a solar plus storage solution to Brantingham & Carroll International Ltd. (BCI) in China, its first multi-MW shipment in this large market. There is potential for this relationship to become more lucrative in 2019. The company had a setback when Bosch, a potential partner for microgrid applications, decided to cease efforts developing such solutions. IPWR began to penetrate the electric vehicle (EV) charging segment when privately-held eCAMION placed multiple orders for its Stabiliti multi-port power conversion for charging solutions along the Trans-Canada highway.”

According to TipRanks.com, Driscoll is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.7% and a 32.8% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Amer Superconductor, and Canadian Solar Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ideal Power with a $3 average price target.

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Based on Ideal Power’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.72 million. In comparison, last year the company had a GAAP net loss of $3.21 million.

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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.