Insider Buying: Ideal Power Inc. (NASDAQ:IPWR) Director Buys 3,000 Shares of Stock

Ideal Power Inc. (NASDAQ:IPWR) Director Laban E. Lesster purchased 3,000 shares of Ideal Power stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average price of $5.88 per share, for a total transaction of $17,640.00. Following the completion of the transaction, the director now owns 16,252 shares in the company, valued at approximately $95,561.76. The trade was a 22.64 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Ideal Power Stock Down 2.2 %

IPWR opened at $6.62 on Friday. The company’s 50-day moving average price is $7.50 and its 200 day moving average price is $7.50. Ideal Power Inc. has a fifty-two week low of $5.61 and a fifty-two week high of $13.98. The firm has a market cap of $53.95 million, a price-to-earnings ratio of -4.73 and a beta of 1.10.

Hedge Funds Weigh In On Ideal Power

Several institutional investors have recently made changes to their positions in IPWR. Virtu Financial LLC acquired a new position in Ideal Power during the 1st quarter valued at approximately $90,000. Bailard Inc. lifted its stake in Ideal Power by 13.8% in the second quarter. Bailard Inc. now owns 25,615 shares of the industrial products company’s stock valued at $181,000 after buying an additional 3,100 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ideal Power by 13.2% during the third quarter. Geode Capital Management LLC now owns 77,877 shares of the industrial products company’s stock valued at $639,000 after acquiring an additional 9,075 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Ideal Power by 1.9% during the first quarter. Vanguard Group Inc. now owns 268,926 shares of the industrial products company’s stock worth $2,393,000 after acquiring an additional 5,004 shares during the last quarter. 16.37% of the stock is owned by institutional investors.

Ideal Power Company Profile

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.