iPower (NYSE:IPW) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of iPower (NYSE:IPW) from a buy rating to a hold rating in a research note released on Saturday.

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

iPower Stock Performance

NYSE:IPW opened at $1.49 on Friday. The business has a 50 day moving average price of $1.47 and a 200-day moving average price of $1.34. iPower has a fifty-two week low of $0.40 and a fifty-two week high of $3.65. The firm has a market cap of $46.79 million, a PE ratio of -8.76 and a beta of 3.99.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IPW. Armistice Capital LLC purchased a new stake in iPower in the second quarter worth about $3,043,000. Heron Bay Capital Management purchased a new position in iPower during the second quarter valued at $65,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of iPower by 197.8% during the 2nd quarter. Renaissance Technologies LLC now owns 41,100 shares of the company’s stock valued at $85,000 after buying an additional 27,300 shares in the last quarter. 2.73% of the stock is currently owned by institutional investors.

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.