Oppenheimer Maintains a Buy Rating on Ideal Power (IPWR)

By Austin Angelo

Oppenheimer analyst Colin Rusch maintained a Buy rating on Ideal Power (NASDAQ: IPWR) today and set a price target of $4. The company’s shares opened today at $0.72, close to its 52-week low of $0.65.

Rusch commented:

“IPWR posted in-line revenue but better than expected EPS and cash burn for 2Q:18 while making material progress in commercializing its B-TRAN technology. We continue to see the B-TRAN technology as the key driver of share value over the medium and long term, but recognize the energy storage business is nearing an inflection point given the large energy-storage pipeline project that is slated to move forward over the next 24 months. With limited overhead, we believe the company is well positioned to see significant operating leverage and better than expected cash flow, especially if the PPSA offering is more broadly adopted for EV charging. We remain constructive on the potential for such earnings leverage as well as the potential for a licensing agreement for B-TRAN.”

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 12.4% and a 50.2% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.

Ideal Power has an analyst consensus of Hold.

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The company has a one-year high of $2.94 and a one-year low of $0.65. Currently, Ideal Power has an average volume of 72.24K.

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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.