iPower (NYSE:IPW) Downgraded 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 sent to investors on Saturday.

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

iPower Stock Performance

iPower stock opened at $1.28 on Friday. The company’s 50 day simple moving average is $1.47 and its 200-day simple moving average is $1.33. iPower has a 1 year low of $0.40 and a 1 year high of $3.65. The company has a market capitalization of $40.20 million, a price-to-earnings ratio of -7.53 and a beta of 3.99.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IPW. Heron Bay Capital Management acquired a new stake in iPower during the 2nd quarter worth approximately $65,000. Renaissance Technologies LLC increased its position in shares of iPower by 197.8% during the second quarter. Renaissance Technologies LLC now owns 41,100 shares of the company’s stock worth $85,000 after acquiring an additional 27,300 shares during the period. Finally, Armistice Capital LLC acquired a new stake in shares of 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.