iPower (NYSE:IPW) Receives New Coverage from Analysts at StockNews.com

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

iPower Stock Performance

Shares of NYSE IPW opened at $0.51 on Tuesday. iPower has a fifty-two week low of $0.42 and a fifty-two week high of $1.45. The stock has a market cap of $15.21 million, a price-to-earnings ratio of -2.04 and a beta of 2.81. The firm’s 50-day simple moving average is $0.61 and its 200 day simple moving average is $0.58.

iPower (NYSE:IPW) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.06) earnings per share 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. On average, sell-side analysts predict that iPower will post -0.2 EPS for the current year.

Institutional Investors Weigh In On iPower

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in 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 buying an additional 35,498 shares in the last quarter. Renaissance Technologies LLC purchased a new position in iPower in the 1st quarter valued at approximately $61,000. Millennium Management LLC purchased a new position in iPower in the 2nd quarter valued at approximately $52,000. Finally, Vanguard Group Inc. grew its stake 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 buying an additional 76,583 shares in the last quarter. Hedge funds and other institutional investors own 2.73% of the company’s stock.

About iPower

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.