iPower (NYSE:IPW) Raised to Buy at StockNews.com

StockNews.com upgraded shares of iPower (NYSE:IPW) from a hold rating to a buy rating in a report issued on Wednesday morning.

Separately, Roth Mkm lifted 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 Price Performance

NYSE:IPW opened at $1.49 on Wednesday. The firm has a market capitalization of $46.73 million, a P/E ratio of -8.76 and a beta of 4.05. The business has a 50 day simple moving average of $2.00 and a 200 day simple moving average of $1.14. iPower has a 12-month low of $0.40 and a 12-month high of $3.65.

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

Insider Activity at iPower

In related news, CEO Chenlong Tan bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average price of $1.54 per share, for a total transaction of $30,800.00. Following the transaction, the chief executive officer now directly owns 8,063,334 shares of the company’s stock, valued at approximately $12,417,534.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 27.63% of the company’s stock.

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.