Roth Mkm Boosts iPower (NYSE:IPW) Price Target to $2.75

iPower (NYSE:IPW) had its price objective hoisted by Roth Mkm from $1.25 to $2.75 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, StockNews.com began coverage on shares of iPower in a research note on Thursday, June 20th. They issued a hold rating for the company.

iPower Price Performance

IPW opened at $1.86 on Tuesday. The firm has a fifty day moving average price of $1.57 and a 200 day moving average price of $0.92. iPower has a 1 year low of $0.40 and a 1 year high of $3.65. The stock has a market cap of $55.47 million, a P/E ratio of -10.94 and a beta of 4.13.

iPower (NYSE:IPW) last posted its earnings results on Tuesday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.11. iPower had a negative net margin of 5.74% and a negative return on equity of 23.68%. The firm had revenue of $23.31 million during the quarter, compared to analysts’ expectations of $18.60 million. During the same period in the previous year, the business posted ($0.05) EPS. Equities analysts expect that iPower will post -0.1 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Chenlong Tan acquired 20,000 shares of iPower stock in a transaction on Tuesday, May 21st. The stock was bought at an average cost of $1.54 per share, for a total transaction of $30,800.00. Following the completion of the transaction, the chief executive officer now owns 8,063,334 shares of the company’s stock, valued at approximately $12,417,534.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 27.63% of the stock is currently owned by company insiders.

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.