iPower (NASDAQ:IPW) Shares Down 6.5%

iPower Inc. (NASDAQ:IPW – Get Rating) traded down 6.5% during mid-day trading on Friday . The company traded as low as $0.67 and last traded at $0.75. 45,257 shares traded hands during trading, a decline of 54% from the average session volume of 98,612 shares. The stock had previously closed at $0.80.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. DA Davidson lowered their target price on iPower to $3.00 in a research note on Thursday, September 29th. StockNews.com assumed coverage on iPower in a research note on Monday, December 12th. They set a “hold” rating for the company.

iPower Trading Down 6.5 %

The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.10 and a current ratio of 2.33. The business has a 50-day simple moving average of $0.51 and a two-hundred day simple moving average of $0.53. The stock has a market cap of $22.18 million, a price-to-earnings ratio of -6.25 and a beta of 1.05.

iPower (NASDAQ:IPW – Get Rating) last released its quarterly earnings results on Monday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). iPower had a negative return on equity of 1.62% and a negative net margin of 4.03%. The firm had revenue of $26.02 million for the quarter, compared to analyst estimates of $22.40 million. As a group, research analysts forecast that iPower Inc. will post 0.09 EPS for the current year.

Hedge Funds Weigh In On iPower

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in iPower by 21.6% during the 3rd quarter. Vanguard Group Inc. now owns 430,507 shares of the company’s stock worth $289,000 after acquiring an additional 76,583 shares during the last quarter. Millennium Management LLC acquired a new position in iPower during the 2nd quarter worth approximately $52,000. Finally, Renaissance Technologies LLC acquired a new position in iPower during the 1st quarter worth approximately $61,000. Institutional investors and hedge funds own 1.85% of the company’s stock.

About iPower

(Get Rating)

iPower Inc operates as an online retailer and supplier of hydroponics equipment and accessories for commercial businesses and individuals in the United States. It offers advanced indoor and greenhouse grow-light systems, ventilation systems, activated carbon filters, nutrients, growing media, hydroponic water-resistant grow tents, trimming machines, pumps, and accessories for hydroponic gardening; general gardening products, including environmental sensors and controls; and home products, which comprise commercial fans, floor and wall fans, storage and shelving units, and chairs.