Lesster Laban E, a director at Ideal Power Inc. (NASDAQ:IPWR), recently purchased 3,000 shares of the company's common stock. The transaction, which took place on November 19, 2024, was executed at a weighted average price of $5.88 per share, resulting in a total investment of $17,640. Following this acquisition, Laban's direct ownership in Ideal Power stands at 16,252 shares. This purchase was made in multiple transactions with prices ranging from $5.79 to $5.99 per share.
In other recent news, Ideal Power, a semiconductor firm, has made significant strides in its B-TRAN technology and partnerships, as disclosed in its Q3 2024 earnings call. Notably, the company received a major order from a global Tier 1 automotive supplier and is currently in Phase 3 of a program with Stellantis (NYSE:STLA), while also engaging with a third global automaker. Newly formed distributor partnerships with RYOSHO and Sekorm are expected to broaden market reach in Asia. Despite reporting modest revenue in Q3 2024, Ideal Power projects a significant revenue increase in the second half of 2025.
The company is also undergoing third-party automotive qualification testing for B-TRAN devices, with encouraging preliminary results. The serviceable addressable market for B-TRAN is projected to surpass $8 billion by 2028. However, the company experienced a Q3 2024 cash burn of $2.4 million, with an anticipated full-year cash burn between $8.2 and $8.4 million.
These recent developments highlight Ideal Power's commitment to innovation and market expansion. The company remains optimistic about the global market for electric vehicles and renewable energy, and is positioning itself to capitalize on these growing sectors. As Ideal Power continues to nurture key partnerships and expand its global reach, investors are watching closely to see how the company will execute its ambitious plans.
InvestingPro Insights
The recent insider purchase by Director Lesster Laban E aligns with several key insights from InvestingPro. According to InvestingPro Tips, Ideal Power (NASDAQ:IPWR) is currently trading near its 52-week low, which may have influenced the director's decision to increase his stake. This purchase could be seen as a vote of confidence in the company's future prospects, especially considering that analysts expect sales growth in the current year.
InvestingPro Data shows that Ideal Power's market capitalization stands at $45.16 million, reflecting its status as a small-cap company. The stock's recent performance has been challenging, with a 1-month price total return of -20.78% and a 3-month return of -31.02%. These figures contextualize the director's purchase, suggesting he may view the current price as an attractive entry point.
It's worth noting that while the company is not currently profitable, with a negative P/E ratio of -4.42, InvestingPro Tips indicate that net income is expected to grow this year. Additionally, analysts predict the company will be profitable this year, which could be a significant turning point for Ideal Power.
For investors seeking a more comprehensive analysis, InvestingPro offers 17 additional tips for Ideal Power, providing a deeper understanding of the company's financial health and market position.
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