iPower (NYSE:IPW) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of iPower (NYSE:IPW) in a research note issued to investors on Friday. The firm issued a hold rating on the stock.

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

iPower Stock Up 11.8 %

iPower stock opened at $2.08 on Friday. iPower has a twelve month low of $0.40 and a twelve month high of $3.65. The stock has a market cap of $62.03 million, a P/E ratio of -12.23 and a beta of 4.13. The company’s 50-day moving average price is $1.60 and its two-hundred day moving average price is $0.93.

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

Insiders Place Their Bets

In related news, CEO Chenlong Tan bought 20,000 shares of iPower stock in a transaction dated Tuesday, May 21st. The shares were bought at an average cost of $1.54 per share, with a total value of $30,800.00. Following the acquisition, the chief executive officer now owns 8,063,334 shares in the company, valued at approximately $12,417,534.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 27.63% 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.