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

StockNews.com assumed coverage on shares of iPower (NYSE:IPWFree Report) in a research note published on Thursday. The brokerage issued a hold rating on the stock.

Separately, Roth Mkm raised their price target on iPower from $1.00 to $1.25 and gave the stock a buy rating in a report on Wednesday, May 15th.

Check Out Our Latest Analysis on IPW

iPower Trading Down 1.1 %

Shares of NYSE IPW opened at $1.83 on Thursday. The stock has a fifty day simple moving average of $1.46 and a two-hundred day simple moving average of $0.88. iPower has a 1-year low of $0.40 and a 1-year high of $3.65. The firm has a market cap of $54.57 million, a price-to-earnings ratio of -10.76 and a beta of 4.13.

iPower (NYSE:IPWGet Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.11. iPower had a negative return on equity of 23.68% and a negative net margin of 5.74%. The business had revenue of $23.31 million during the quarter, compared to analyst estimates of $18.60 million. During the same period in the prior year, the company earned ($0.05) earnings per share. Analysts forecast that iPower will post -0.1 EPS for the current year.

Insider Transactions at iPower

In related news, CEO Chenlong Tan purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average cost of $1.54 per share, with a total value of $30,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,063,334 shares of the company’s stock, valued at $12,417,534.36. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 27.63% of the company’s stock.

About iPower

(Get Free Report)

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.

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