H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Ideal Power (NASDAQ: IPWR) today and set a price target of $2. The company’s shares closed yesterday at $0.72, close to its 52-week low of $0.65.
Dayal wrote:
“We have lowered our revenue estimates for 3Q18, 4Q18, and 2019 to $622K, $775K, and $6.2M, respectively, down from $3.5M, $6.8M, and $25.5M, previously. We expect revenues to grow from $6.2M in 2019 to $65.3M in 2023, growing at four-year CAGR of 79.9%. We expect operating expenses to grow modestly from $9.0M in 2019 to $14.3M in 2023 as the company leverages its asset-light and licensing business model.”
According to TipRanks.com, Dayal is ranked 0 out of 5 stars with an average return of -6.4% and a 35.8% success rate. Dayal covers the Consumer Goods sector, focusing on stocks such as Pointer Telocation Ltd, Pacific Ethanol, and Enphase Energy.
Ideal Power has an analyst consensus of Moderate Buy, with a price target consensus of $4, which is a 453.9% upside from current levels. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $4 price target.
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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.
