iPower (NASDAQ:IPW) Announces Quarterly Earnings Results

iPower (NASDAQ:IPW) issued its quarterly earnings results on Wednesday. The company reported ($0.18) earnings per share for the quarter, Zacks reports. iPower had a negative return on equity of 26.09% and a negative net margin of 10.35%.The company had revenue of $3.50 million for the quarter. During the same quarter last year, the business posted ($0.70) EPS.

iPower Stock Down 27.0%

Shares of NASDAQ IPW opened at $0.58 on Thursday. The stock has a market cap of $765,600.00, a PE ratio of -0.13 and a beta of 3.03. The company has a quick ratio of 1.38, a current ratio of 1.83 and a debt-to-equity ratio of 0.24. iPower has a 52-week low of $0.52 and a 52-week high of $34.65. The business has a 50-day moving average price of $1.24 and a 200 day moving average price of $5.10.

Shares of iPower are set to reverse split on the morning of Friday, May 22nd. The 1-8 reverse split was announced on Tuesday, May 19th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, May 21st.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IPW. Wall Street Zen downgraded iPower from a “hold” rating to a “strong sell” rating in a report on Saturday, February 28th. Weiss Ratings restated a “sell (e+)” rating on shares of iPower in a report on Friday, April 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

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. It also provides general gardening products, including environmental sensors and controls; and home products, which comprise commercial fans, floor and wall fans, storage and shelving units, and chairs.