iPower (NYSE:IPW) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of iPower (NYSE:IPW) in a research note issued to investors on Wednesday morning. The brokerage issued a hold rating on the stock.

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

iPower Price Performance

Shares of IPW opened at $3.30 on Wednesday. The stock has a market capitalization of $98.40 million, a PE ratio of -19.41 and a beta of 4.13. The business’s fifty day moving average price is $1.32 and its 200 day moving average price is $0.84. iPower has a 12-month low of $0.40 and a 12-month high of $3.65.

iPower (NYSE:IPW) 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. The business had revenue of $23.31 million during the quarter, compared to analyst estimates of $18.60 million. iPower had a negative return on equity of 23.68% and a negative net margin of 5.74%. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. As a group, research analysts anticipate that iPower will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at iPower

In other news, CEO Chenlong Tan acquired 20,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were bought at an average cost of $1.54 per share, for a total transaction of $30,800.00. Following the purchase, the chief executive officer now directly owns 8,063,334 shares of the company’s stock, valued at $12,417,534.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 27.63% of the company’s stock.

iPower Company Profile

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.