iPower (NYSE:IPW) Lifted to “Buy” at StockNews.com

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

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

iPower Price Performance

NYSE IPW opened at $2.06 on Friday. The company has a market cap of $64.69 million, a P/E ratio of -12.65 and a beta of 3.99. iPower has a 12 month low of $0.40 and a 12 month high of $3.65. The company has a 50-day moving average of $1.45 and a 200-day moving average of $1.37.

Institutional Investors Weigh In On iPower

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew its position in 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 acquiring an additional 27,300 shares in the last quarter. Heron Bay Capital Management acquired a new stake in iPower during the 2nd quarter valued at approximately $65,000. Finally, Armistice Capital LLC purchased a new stake in iPower during the 2nd quarter worth approximately $3,043,000. 2.73% of the stock is currently owned by hedge funds and other institutional investors.

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.