iPower (NYSE:IPW) Rating Lowered to Hold at StockNews.com

iPower (NYSE:IPW) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Roth Mkm raised their price objective on iPower from $1.25 to $2.75 and gave the company a “buy” rating in a research note on Tuesday, June 25th.

iPower Stock Performance

IPW stock opened at $1.73 on Tuesday. iPower has a 1 year low of $0.40 and a 1 year high of $3.65. The firm has a market cap of $54.32 million, a P/E ratio of -10.18 and a beta of 4.05. The stock has a 50-day simple moving average of $2.04 and a 200-day simple moving average of $1.09.

iPower (NYSE:IPW) last posted its earnings results on Tuesday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm earned ($0.05) earnings per share. On average, equities research analysts predict that iPower will post -0.06 EPS for the current year.

Insider Buying and Selling

In related news, CEO Chenlong Tan purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average price of $1.54 per share, with a total value of $30,800.00. Following the acquisition, the chief executive officer now owns 8,063,334 shares in the company, valued at approximately $12,417,534.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 27.63% of the company’s stock.

About iPower

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.