Geode Capital Management LLC Acquires 9,075 Shares of Ideal Power Inc. (NASDAQ:IPWR)

Geode Capital Management LLC grew its holdings in Ideal Power Inc. (NASDAQ:IPWR) by 13.2% during the 3rd quarter, Holdings Channel reports. The firm owned 77,877 shares of the industrial products company’s stock after purchasing an additional 9,075 shares during the period. Geode Capital Management LLC’s holdings in Ideal Power were worth $639,000 at the end of the most recent quarter.

Ideal Power Price Performance

Ideal Power stock opened at $7.25 on Friday. The company’s 50 day simple moving average is $6.94 and its 200 day simple moving average is $7.41. 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 capitalization of $59.07 million, a price-to-earnings ratio of -5.18 and a beta of 1.03.

Insider Buying and Selling

In related news, CEO Daniel Brdar purchased 4,500 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were purchased at an average price of $5.91 per share, with a total value of $26,595.00. Following the completion of the purchase, the chief executive officer now owns 179,526 shares in the company, valued at $1,060,998.66. This represents a 2.57 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.02% of the stock is owned by insiders.

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.