iPower (NYSE:IPW) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of iPower (NYSE:IPW) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

iPower Stock Performance

Shares of IPW stock opened at $0.49 on Wednesday. The firm has a market cap of $14.54 million, a price-to-earnings ratio of -1.95 and a beta of 2.81. iPower has a 52 week low of $0.42 and a 52 week high of $1.45. The firm’s 50-day simple moving average is $0.60 and its two-hundred day simple moving average is $0.57.

iPower (NYSE:IPW) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). iPower had a negative net margin of 8.88% and a negative return on equity of 37.62%. The business had revenue of $16.80 million during the quarter, compared to the consensus estimate of $26.50 million. Analysts forecast that iPower will post -0.2 earnings per share for the current year.

Institutional Trading of iPower

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC purchased a new position in iPower in the 2nd quarter worth approximately $52,000. Renaissance Technologies LLC purchased a new position in iPower in the 1st quarter worth approximately $61,000. Geode Capital Management LLC boosted its stake in shares of iPower by 91.9% in the 2nd quarter. Geode Capital Management LLC now owns 74,139 shares of the company’s stock valued at $82,000 after purchasing an additional 35,498 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of iPower by 21.6% in the 3rd quarter. Vanguard Group Inc. now owns 430,507 shares of the company’s stock valued at $289,000 after purchasing an additional 76,583 shares in the last quarter. Institutional investors own 2.73% of the company’s stock.

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.