StockNews.com Initiates Coverage on iPower (NYSE:IPW)

Research analysts at StockNews.com initiated coverage on shares of iPower (NYSE:IPW) in a report released on Thursday. The brokerage set a “hold” rating on the stock.

Separately, Roth Mkm boosted their price target on shares of iPower from $1.00 to $1.25 and gave the company a “buy” rating in a report on Wednesday, May 15th.

iPower Price Performance

Shares of iPower stock opened at $2.00 on Thursday. The firm has a market cap of $59.64 million, a P/E ratio of -11.76 and a beta of 4.13. The firm has a 50 day simple moving average of $1.41 and a 200 day simple moving average of $0.87. iPower has a fifty-two week low of $0.40 and a fifty-two week high of $3.65.

iPower (NYSE:IPW) last released its earnings results on Tuesday, May 14th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. iPower had a negative net margin of 5.74% and a negative return on equity of 23.68%. The firm had revenue of $23.31 million during the quarter, compared to analyst estimates of $18.60 million. During the same quarter in the previous year, the business earned ($0.05) EPS. On average, sell-side analysts expect that iPower will post -0.1 EPS for the current year.

Insider Activity at iPower

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