iPower Inc. (NASDAQ:IPW) Short Interest Down 60.9% in May

iPower Inc. (NASDAQ:IPWGet Rating) saw a large decrease in short interest in May. As of May 15th, there was short interest totalling 181,200 shares, a decrease of 60.9% from the April 30th total of 462,900 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily volume of 131,900 shares, the short-interest ratio is presently 1.4 days.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of iPower in the third quarter valued at $32,000. FNY Investment Advisers LLC raised its stake in shares of iPower by 53.6% in the fourth quarter. FNY Investment Advisers LLC now owns 16,749 shares of the company’s stock valued at $39,000 after buying an additional 5,844 shares during the period. Renaissance Technologies LLC bought a new stake in shares of iPower in the first quarter valued at $61,000. Aristides Capital LLC bought a new stake in shares of iPower in the third quarter valued at $79,000. Finally, Vident Investment Advisory LLC purchased a new position in shares of iPower in the third quarter valued at $122,000. Institutional investors and hedge funds own 6.19% of the company’s stock.

Separately, DA Davidson decreased their price objective on iPower to $4.00 and set a “na” rating on the stock in a report on Tuesday, May 17th.

Shares of IPW stock traded up $0.01 during trading hours on Friday, reaching $1.16. The company had a trading volume of 727 shares, compared to its average volume of 339,102. The business has a fifty day simple moving average of $1.45 and a 200-day simple moving average of $1.94. The company has a market cap of $30.73 million and a price-to-earnings ratio of 57.50. iPower has a 12 month low of $1.01 and a 12 month high of $10.73. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.84 and a quick ratio of 2.06.

iPower Company Profile (Get Rating)

iPower Inc supplies hydroponics equipment online in the United States. It offers various products, including advanced indoor and greenhouse grow-light systems, ventilation systems, activated carbon filters, nutrients, growing media, hydroponic water-resistant grow tents, trimming machines, pumps, and accessories for hydroponic gardening, as well as other indoor and outdoor growing products under the iPower and Simple Deluxe brands through its Zenhydro.com website and various third-party e-commerce channels.

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