iPower (NYSE:IPW) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of iPower (NYSE:IPW) in a research note published on Thursday. The firm issued a hold rating on the stock.

iPower Trading Up 1.0 %

NYSE IPW opened at $0.70 on Thursday. The stock’s 50-day simple moving average is $0.84 and its two-hundred day simple moving average is $0.75. iPower has a twelve month low of $0.35 and a twelve month high of $1.45. The company has a market capitalization of $18.60 million, a price-to-earnings ratio of -2.01 and a beta of 2.85. The company has a quick ratio of 0.96, a current ratio of 1.88 and a debt-to-equity ratio of 0.32.

Hedge Funds Weigh In On iPower

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of iPower by 91.9% during 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 during the last quarter. Vanguard Group Inc. increased its holdings in iPower by 21.6% during the third quarter. Vanguard Group Inc. now owns 430,507 shares of the company’s stock valued at $289,000 after buying an additional 76,583 shares during the period. Millennium Management LLC purchased a new position in iPower during the second quarter valued at approximately $52,000. Finally, Renaissance Technologies LLC purchased a new position in iPower during the first quarter valued at approximately $61,000. 2.95% of the stock is owned by institutional investors.

About iPower

iPower Inc operates as an online retailer and supplier of hydroponics equipment and accessories for commercial businesses and individuals in the United States. It offers 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; 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.