Oppenheimer Thinks Ideal Power’s Stock is Going to Recover


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 closed yesterday at $1.26, close to its 52-week low of $1.06.

Rusch noted:

“IPWR continues to move its IP development forward even as its product sales ramp has proven far more challenging than expected. We are encouraged by the company’s decision to put the B-TRAN division under separate leadership as we believe driving the technology to full commercialization and licensing agreements will take a focused effort. We are seeing stationary energy storage projects advance in development, and IPWR is seeing an uptick in sales in 2Q:18 expecting to reach $0.5M in sales during 2Q:18. We also believe the company is managing cash well but are somewhat on cautious cash needs pending ramp in power.”

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 15.9% and a 51.4% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Canadian Solar Inc, and Fuelcell Energy.

Ideal Power has an analyst consensus of Moderate Buy, with a price target consensus of $2.95.

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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 266.8K.

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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.

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