iPower (NYSE:IPW) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of iPower (NYSE:IPW) in a report issued on Thursday morning. The firm issued a hold rating on the stock.

Separately, Roth Mkm raised their target price on iPower from $1.00 to $1.25 and gave the company a buy rating in a report on Wednesday, May 15th.

iPower Stock Performance

Shares of NYSE:IPW opened at $1.83 on Thursday. The business’s 50 day simple moving average is $1.46 and its two-hundred day simple moving average is $0.88. The firm has a market cap of $54.57 million, a P/E ratio of -10.76 and a beta of 4.13. iPower has a 52-week low of $0.40 and a 52-week high of $3.65.

iPower (NYSE:IPW) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. The business had revenue of $23.31 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned ($0.05) earnings per share. On average, equities analysts forecast that iPower will post -0.1 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Chenlong Tan bought 20,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were bought at an average price of $1.54 per share, for a total transaction of $30,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,063,334 shares of the company’s stock, valued at $12,417,534.36. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 27.63% of the company’s stock.

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.