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

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

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

iPower Price Performance

Shares of IPW opened at $1.29 on Thursday. The company has a market capitalization of $40.51 million, a PE ratio of -7.59 and a beta of 3.99. iPower has a one year low of $0.40 and a one year high of $3.65. The company’s fifty day moving average price is $1.50 and its 200 day moving average price is $1.29.

Hedge Funds Weigh In On iPower

Institutional investors and hedge funds have recently bought and sold shares of the stock. Heron Bay Capital Management acquired a new stake in iPower in the 2nd quarter worth $65,000. Renaissance Technologies LLC lifted its stake in shares of iPower by 197.8% in the second 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 during the period. Finally, Armistice Capital LLC acquired a new stake in iPower during the second quarter worth about $3,043,000. 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.