iPower (NYSE:IPW) Now Covered by StockNews.com

Investment analysts at StockNews.com started coverage on shares of iPower (NYSE:IPW) in a research note issued on Wednesday. The firm set a “hold” rating on the stock.

iPower Trading Down 11.0 %

IPW opened at $0.40 on Wednesday. The stock has a fifty day moving average price of $0.60 and a 200-day moving average price of $0.56. iPower has a 12 month low of $0.40 and a 12 month high of $1.45. The firm has a market cap of $11.94 million, a price-to-earnings ratio of -1.60 and a beta of 2.80.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IPW. Vanguard Group Inc. increased its position in iPower by 409.0% during the 1st quarter. Vanguard Group Inc. now owns 353,924 shares of the company’s stock valued at $595,000 after buying an additional 284,391 shares in the last quarter. Millennium Management LLC purchased a new stake in iPower during the 2nd quarter valued at about $52,000. Renaissance Technologies LLC purchased a new stake in iPower during the 1st quarter valued at about $61,000. Finally, Geode Capital Management LLC grew its stake in iPower by 91.9% during the 2nd quarter. Geode Capital Management LLC now owns 74,139 shares of the company’s stock valued at $82,000 after purchasing an additional 35,498 shares during the last quarter. 2.73% of the stock is 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.