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

Investment analysts at StockNews.com initiated coverage on shares of iPower (NYSE:IPW) in a research note issued to investors on Friday. The firm set a “hold” rating on the stock.

iPower Stock Performance

NYSE:IPW opened at $0.53 on Friday. iPower has a 1 year low of $0.35 and a 1 year high of $1.45. The firm has a market capitalization of $15.78 million, a PE ratio of -1.77 and a beta of 2.82. The firm’s fifty day simple moving average is $0.62 and its 200 day simple moving average is $0.77. The company has a current ratio of 1.77, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47.

iPower (NYSE:IPW) last posted its earnings results on Thursday, September 14th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). iPower had a negative net margin of 13.48% and a negative return on equity of 36.45%. The business had revenue of $23.40 million during the quarter, compared to the consensus estimate of $21.50 million. During the same period in the previous year, the firm earned ($0.05) EPS. On average, sell-side analysts anticipate that iPower will post -0.09 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Millennium Management LLC acquired a new position in shares of iPower in the 2nd quarter valued at approximately $52,000. Renaissance Technologies LLC bought a new stake in shares of iPower during the first quarter worth approximately $61,000. Geode Capital Management LLC increased its position in iPower by 91.9% during the second quarter. Geode Capital Management LLC now owns 74,139 shares of the company’s stock worth $82,000 after acquiring an additional 35,498 shares during the period. Finally, Vanguard Group Inc. raised its holdings in 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 acquiring an additional 76,583 shares in the last quarter. 2.95% of the stock is currently owned by institutional investors.

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.