iPower (NYSE:IPW) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of iPower (NYSE:IPW) from a hold rating to a buy rating in a report issued on Tuesday.

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

iPower Stock Performance

Shares of IPW opened at $1.26 on Tuesday. iPower has a 1 year low of $0.40 and a 1 year high of $3.65. The stock has a market capitalization of $39.57 million, a PE ratio of -7.41 and a beta of 4.05. The stock has a 50-day simple moving average of $1.59 and a 200-day simple moving average of $1.27.

Hedge Funds Weigh In On iPower

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings 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 buying an additional 27,300 shares in the last quarter. Heron Bay Capital Management purchased a new stake in iPower in the second quarter valued at $65,000. Finally, Armistice Capital LLC acquired a new position in iPower in the second quarter valued at $3,043,000. Hedge funds and other institutional investors own 2.73% of the company’s stock.

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.