iPower (NASDAQ:IPW) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of iPower (NASDAQ:IPW) from a sell rating to a strong sell rating in a research note released on Sunday morning,Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of iPower in a report on Wednesday, July 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, iPower has an average rating of “Sell”.

iPower Trading Up 36.3%

Shares of NASDAQ:IPW opened at $2.63 on Friday. iPower has a 12-month low of $1.53 and a 12-month high of $2,494.80. The business has a 50 day moving average of $4.81 and a 200-day moving average of $47.83. 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 stock has a market cap of $2.52 million, a PE ratio of -0.01 and a beta of 2.92.

Insider Buying and Selling

In related news, major shareholder Financial Lp Hrt acquired 1,993 shares of the company’s stock in a transaction on Monday, July 6th. The stock was purchased at an average cost of $18.72 per share, with a total value of $37,308.96. Following the acquisition, the insider directly owned 8,898 shares of the company’s stock, valued at approximately $166,570.56. The trade was a 28.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

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. 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.