iPower (NASDAQ:IPW) Issues Earnings Results

iPower (NASDAQ:IPW) issued its quarterly earnings data on Friday. The company reported ($76.06) earnings per share for the quarter, FiscalAI reports. The business had revenue of $1.43 million during the quarter. iPower had a negative return on equity of 26.96% and a negative net margin of 23.43%.

iPower Trading Down 1.8%

NASDAQ IPW traded down $0.02 during trading on Friday, hitting $1.12. The stock had a trading volume of 235,161 shares, compared to its average volume of 346,856. iPower has a twelve month low of $1.04 and a twelve month high of $2,095.20. The firm has a 50 day moving average price of $2.69 and a 200 day moving average price of $35.47. The company has a quick ratio of 1.81, a current ratio of 2.20 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $1.31 million, a PE ratio of -0.00 and a beta of 2.96.

Insider Activity at iPower

In related news, major shareholder Financial Lp Hrt purchased 1,993 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were purchased at an average cost of $18.72 per share, for a total transaction of $37,308.96. Following the purchase, the insider directly owned 8,898 shares of the company’s stock, valued at $166,570.56. The trade was a 28.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of iPower in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of iPower from a “sell” rating to a “strong sell” rating in a research report on Sunday, September 13th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, iPower has a consensus rating of “Sell”.

About iPower

iPower Inc is an e-commerce retailer and supplier of hydroponic equipment, indoor gardening products and related growing supplies. The company serves home growers, hobbyists and other customers seeking equipment for controlled-environment cultivation.

Its product range includes grow lights, grow tents, ventilation systems, fans, carbon filters, air and water pumps, growing media, nutrients, containers and other gardening tools and accessories. iPower sells products through its own online channels and major third-party e-commerce marketplaces.

Based in Duarte, California, iPower primarily serves customers in the United States through its online distribution model.