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

StockNews.com assumed coverage on shares of iPower (NYSE:IPW) in a research note published on Sunday morning. The firm issued a hold rating on the stock.

iPower Price Performance

Shares of NYSE:IPW opened at $0.72 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.25 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $0.82 and its two-hundred day simple moving average is $1.16. iPower has a 1-year low of $0.40 and a 1-year high of $3.65. The stock has a market cap of $22.54 million, a PE ratio of -10.24 and a beta of 3.67.

Hedge Funds Weigh In On iPower

Large investors have recently bought and sold shares of the stock. Royce & Associates LP bought a new position in iPower during the 3rd quarter valued at $26,000. XTX Topco Ltd bought a new position in iPower during the 3rd quarter valued at $55,000. Mariner LLC bought a new position in iPower during the 4th quarter valued at $34,000. Two Sigma Investments LP raised its stake in shares of iPower by 169.3% during the 4th quarter. Two Sigma Investments LP now owns 51,789 shares of the company’s stock worth $43,000 after purchasing an additional 32,557 shares during the period. Finally, Chico Wealth RIA bought a new stake in shares of iPower during the 4th quarter worth $197,000. 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.