Financial Lp Hrt Sells 12,940 Shares of iPower (NASDAQ:IPW) Stock

iPower Inc. (NASDAQ:IPW) major shareholder Financial Lp Hrt sold 12,940 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $1.78, for a total transaction of $23,033.20. Following the transaction, the insider directly owned 67,148 shares in the company, valued at approximately $119,523.44. The trade was a 16.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, July 6th, Financial Lp Hrt purchased 17,944 shares of iPower stock. The shares were bought at an average price of $2.08 per share, for a total transaction of $37,323.52.

iPower Trading Down 6.7%

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

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

Analyst Ratings Changes

Several research firms have commented on IPW. Weiss Ratings reiterated a “sell (e+)” rating on shares of iPower in a report on Friday, April 17th. Wall Street Zen upgraded shares of 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 data from MarketBeat, the company has a consensus rating of “Sell”.

iPower Company Profile

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.