B.Riley FBR Sticks to Its Hold Rating for Ideal Power

B.Riley FBR analyst Carter Driscoll maintained a Hold rating on Ideal Power (NASDAQ: IPWR) today. The company’s shares opened today at $1.21, close to its 52-week low of $1.06.

Driscoll noted:

“Signs of life. Ideal Power (IPWR) reported 1Q18 revenues of $0.2M and EPS of ($0.15) with revenues that missed but EPS that were in line with the Street and our estimates on solid cost controls. Ideal made some progress with orders from BCI, Sharp, and JLM Energy and a new relationship with Bosch, although the storage market remains lumpy. IPWR has fabricated and tested its first proof-of-concept B-TRAN prototypes, and management estimated B-TRAN sales goals to be in the low to high millions of units per year once commercialized. We see some early orders in core solar plus storage and microgrid markets and customer Sharp pushing ahead in the stand-alone storage market.”

According to TipRanks.com, Driscoll is ranked 0 out of 5 stars with an average return of -6.8% and a 33.3% success rate. Driscoll covers the Consumer Goods sector, focusing on stocks such as SolarEdge Technologies, Pacific Ethanol, and Enphase Energy.

Ideal Power has an analyst consensus of Moderate Buy, with a price target consensus of $3.10.

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The company has a one-year high of $3.29 and a one-year low of $1.06. Currently, Ideal Power has an average volume of 258.8K.

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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.