StockNews.com Initiates Coverage on iPower (NYSE:IPW)

Equities research analysts at StockNews.com initiated coverage on shares of iPower (NYSE:IPW) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the stock.

iPower Trading Down 4.7 %

NYSE:IPW opened at $0.56 on Tuesday. The company has a 50-day moving average price of $0.54 and a 200-day moving average price of $0.82. iPower has a 12 month low of $0.41 and a 12 month high of $3.65. The company has a current ratio of 1.95, a quick ratio of 1.25 and a debt-to-equity ratio of 0.19. The stock has a market cap of $17.67 million, a price-to-earnings ratio of 2.96 and a beta of 3.66.

Institutional Investors Weigh In On iPower

Several institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP lifted its position in shares of iPower by 169.3% in the 4th quarter. Two Sigma Investments LP now owns 51,789 shares of the company’s stock worth $43,000 after purchasing an additional 32,557 shares during the period. Mariner LLC purchased a new stake in shares of iPower in the 4th quarter worth about $34,000. Finally, Chico Wealth RIA purchased a new stake in shares of iPower in the 4th quarter worth about $197,000. 2.73% of the stock is owned by hedge funds and other institutional investors.

About iPower

iPower Inc operates as an online retailer and supplier of consumer home, garden, and pet products for commercial businesses and individuals in the United States. The company offers grow light systems; advanced heating, ventilation, and air conditioning systems; water pumps, heaters, chillers, and filters; nutrient and fertilizer delivery systems; and various growing media products.