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

StockNews.com lowered shares of iPower (NYSE:IPW) from a buy rating to a hold rating in a research report released on Saturday.

Separately, Roth Mkm raised their target price on shares of iPower from $1.25 to $2.75 and gave the company a buy rating in a report on Tuesday, June 25th.

iPower Stock Performance

Shares of NYSE:IPW opened at $1.41 on Friday. The company has a 50-day simple moving average of $1.46 and a 200-day simple moving average of $1.34. iPower has a one year low of $0.40 and a one year high of $3.65. The stock has a market capitalization of $44.28 million, a price-to-earnings ratio of -8.29 and a beta of 3.99.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Armistice Capital LLC acquired a new position in shares of iPower in the 2nd quarter valued at about $3,043,000. Heron Bay Capital Management acquired a new position in shares of iPower during the 2nd quarter worth $65,000. Finally, Renaissance Technologies LLC lifted its stake in shares of iPower by 197.8% in the 2nd quarter. Renaissance Technologies LLC now owns 41,100 shares of the company’s stock valued at $85,000 after purchasing an additional 27,300 shares during the last quarter. 2.73% of the stock is currently owned by institutional investors and hedge funds.

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.