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

StockNews.com assumed coverage on shares of iPower (NYSE:IPW) in a research report issued on Wednesday. The brokerage set a “hold” rating on the stock.

iPower Stock Up 3.3 %

IPW stock opened at $0.49 on Wednesday. iPower has a twelve month low of $0.42 and a twelve month high of $1.45. The stock has a market capitalization of $14.54 million, a price-to-earnings ratio of -1.95 and a beta of 2.81. The firm’s fifty 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 data on Wednesday, February 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $16.80 million for the quarter, compared to the consensus estimate of $26.50 million. iPower had a negative net margin of 8.88% and a negative return on equity of 37.62%. As a group, equities research analysts expect that iPower will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IPW. Renaissance Technologies LLC bought a new position in iPower during the 1st quarter worth about $61,000. Millennium Management LLC bought a new position in iPower during the 2nd quarter worth about $52,000. Geode Capital Management LLC grew its holdings in iPower by 91.9% during the 2nd 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 in the last quarter. Finally, Vanguard Group Inc. grew its holdings in iPower by 409.0% during the 1st quarter. Vanguard Group Inc. now owns 353,924 shares of the company’s stock worth $595,000 after acquiring an additional 284,391 shares in the last quarter. 2.73% 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.