iPower (NYSE:IPW) Price Target Raised to $2.75

iPower (NYSE:IPW) had its price target raised by Roth Mkm from $1.25 to $2.75 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Separately, StockNews.com initiated coverage on shares of iPower in a research report on Thursday, June 20th. They set a hold rating on the stock.

iPower Price Performance

Shares of iPower stock opened at $2.08 on Tuesday. The company’s 50 day moving average price is $1.60 and its two-hundred day moving average price is $0.93. The firm has a market capitalization of $62.03 million, a P/E ratio of -12.23 and a beta of 4.13. iPower has a fifty-two week low of $0.40 and a fifty-two week high of $3.65.

iPower (NYSE:IPW) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The business had revenue of $23.31 million for 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 previous year, the company posted ($0.05) EPS. On average, analysts expect that iPower will post -0.1 earnings per share for the current year.

Insider Buying and Selling at iPower

In related news, CEO Chenlong Tan acquired 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average cost of $1.54 per share, with a total value of $30,800.00. Following the completion of the purchase, the chief executive officer now directly owns 8,063,334 shares in the company, valued at $12,417,534.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.