iPower (NYSE:IPW) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of iPower (NYSE:IPW) in a research note released on Wednesday morning. The firm issued a hold rating on the stock.

iPower Price Performance

IPW stock opened at $0.40 on Wednesday. The company has a 50 day moving average price of $0.59 and a two-hundred day moving average price of $0.56. iPower has a one year low of $0.40 and a one year high of $1.45.

iPower (NYSE:IPW) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $16.80 million during the quarter, compared to analysts’ expectations of $26.50 million. iPower had a negative net margin of 8.88% and a negative return on equity of 37.62%. On average, sell-side analysts anticipate that iPower will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of iPower

Several large investors have recently added to or reduced their stakes in IPW. Geode Capital Management LLC lifted its stake in shares of iPower by 91.9% during the second quarter. Geode Capital Management LLC now owns 74,139 shares of the company’s stock worth $82,000 after purchasing an additional 35,498 shares in the last quarter. Vanguard Group Inc. boosted its holdings in iPower by 21.6% in the 3rd quarter. Vanguard Group Inc. now owns 430,507 shares of the company’s stock worth $289,000 after acquiring an additional 76,583 shares during the period. Millennium Management LLC acquired a new stake in iPower in the second quarter valued at approximately $52,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of iPower during the first quarter valued at approximately $61,000. 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.