StockNews.com Lowers iPower (NYSE:IPW) to Hold

StockNews.com lowered shares of iPower (NYSE:IPW) from a buy rating to a hold rating in a research report released on Saturday.

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

iPower Trading Up 16.4 %

Shares of IPW opened at $1.49 on Friday. The firm has a fifty day simple moving average of $1.47 and a two-hundred day simple moving average of $1.34. The firm has a market cap of $46.79 million, a PE ratio of -8.76 and a beta of 3.99. iPower has a 1-year low of $0.40 and a 1-year high of $3.65.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Heron Bay Capital Management purchased a new stake in shares of iPower in the 2nd quarter worth $65,000. Renaissance Technologies LLC grew its stake in shares of iPower by 197.8% during the 2nd quarter. Renaissance Technologies LLC now owns 41,100 shares of the company’s stock valued at $85,000 after acquiring an additional 27,300 shares during the period. Finally, Armistice Capital LLC purchased a new stake in iPower in the 2nd quarter worth approximately $3,043,000. 2.73% of the stock is currently owned by institutional investors.

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.