Financial Lp Hrt Purchases 17,944 Shares of iPower (NASDAQ:IPW) Stock

iPower Inc. (NASDAQ:IPW) major shareholder Financial Lp Hrt purchased 17,944 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were purchased at an average cost of $2.08 per share, for a total transaction of $37,323.52. Following the completion of the transaction, the insider owned 80,088 shares in the company, valued at approximately $166,583.04. This represents a 28.87% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Tuesday, July 7th, Financial Lp Hrt sold 12,940 shares of iPower stock. The stock was sold at an average price of $1.78, for a total transaction of $23,033.20.

iPower Trading Down 6.7%

NASDAQ:IPW opened at $1.53 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.20 and a quick ratio of 1.81. The firm has a market capitalization of $1.01 million, a P/E ratio of -0.03 and a beta of 2.91. iPower Inc. has a 12-month low of $1.44 and a 12-month high of $277.20. The business has a 50 day simple moving average of $3.81 and a 200 day simple moving average of $20.25.

iPower (NASDAQ:IPW) last posted its earnings results on Wednesday, May 20th. The company reported ($1.44) EPS for the quarter. iPower had a negative return on equity of 26.96% and a negative net margin of 23.43%.The firm had revenue of $3.50 million during the quarter. During the same period last year, the business posted ($5.60) EPS.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of iPower in a research note on Friday, April 17th. Wall Street Zen raised iPower from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

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. It also provides general gardening products, including environmental sensors and controls; and home products, which comprise commercial fans, floor and wall fans, storage and shelving units, and chairs.