iPower (NYSE:IPW) Research Coverage Started at StockNews.com

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

iPower Trading Up 1.1 %

NYSE:IPW opened at $0.54 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.56 and a quick ratio of 0.89. The firm has a 50-day moving average of $0.61 and a 200-day moving average of $0.77. The company has a market cap of $16.10 million, a PE ratio of -1.80 and a beta of 2.82. iPower has a one year low of $0.35 and a one year high of $1.45.

iPower (NYSE:IPW) last released its quarterly earnings results on Thursday, September 14th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). iPower had a negative return on equity of 40.67% and a negative net margin of 10.17%. The firm had revenue of $23.40 million for the quarter, compared to analysts’ expectations of $21.50 million. During the same quarter last year, the firm posted ($0.05) earnings per share. As a group, equities research analysts expect that iPower will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPW. Geode Capital Management LLC lifted its stake in shares of iPower by 91.9% during 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 bought a new stake in iPower during the 1st quarter worth approximately $61,000. Millennium Management LLC bought a new stake in iPower during the 2nd quarter worth approximately $52,000. Finally, Vanguard Group Inc. increased its holdings 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 period. 2.95% of the stock is currently owned by hedge funds and other 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.