StockNews.com Initiates Coverage on iPower (NYSE:IPW)

StockNews.com initiated coverage on shares of iPower (NYSE:IPW) in a research report report published on Saturday. The brokerage issued a hold rating on the stock.

Separately, Roth Mkm increased their price target on iPower from $1.25 to $2.75 and gave the company a buy rating in a report on Tuesday, June 25th.

iPower Stock Down 4.5 %

IPW stock opened at $1.68 on Friday. iPower has a 52 week low of $0.40 and a 52 week high of $3.65. The firm has a market capitalization of $50.10 million, a P/E ratio of -9.88 and a beta of 4.05. The company has a fifty day simple moving average of $1.77 and a two-hundred day simple moving average of $0.99.

iPower (NYSE:IPW) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. iPower had a negative net margin of 5.74% and a negative return on equity of 23.68%. The firm had revenue of $23.31 million during the quarter, compared to the consensus estimate of $18.60 million. During the same quarter last year, the firm earned ($0.05) EPS. As a group, analysts anticipate that iPower will post -0.06 EPS for the current year.

Insider Buying and Selling

In other iPower news, CEO Chenlong Tan bought 20,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were purchased at an average price of $1.54 per share, with a total value of $30,800.00. Following the completion of the purchase, the chief executive officer now owns 8,063,334 shares in the company, valued at approximately $12,417,534.36. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 27.63% of the stock is currently owned by corporate insiders.

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.