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

StockNews.com initiated coverage on shares of iPower (NYSE:IPWFree Report) in a report published on Monday morning. The brokerage issued a hold rating on the stock.

iPower Price Performance

Shares of IPW opened at $0.48 on Monday. The firm has a market capitalization of $14.31 million, a PE ratio of -1.92 and a beta of 2.80. The company’s 50-day moving average is $0.61 and its 200-day moving average is $0.58. iPower has a fifty-two week low of $0.42 and a fifty-two week high of $1.45.

iPower (NYSE:IPWGet Free Report) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $16.80 million for the quarter, compared to the consensus estimate of $26.50 million. iPower had a negative return on equity of 37.62% and a negative net margin of 8.88%. Analysts predict that iPower will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in iPower by 409.0% during the 1st quarter. Vanguard Group Inc. now owns 353,924 shares of the company’s stock worth $595,000 after purchasing an additional 284,391 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of iPower in the 1st quarter worth $61,000. Millennium Management LLC bought a new stake in shares of iPower in the 2nd quarter worth $52,000. Finally, Geode Capital Management LLC grew its position in iPower by 91.9% during the second 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 during the period. Institutional investors own 2.73% 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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