iPower (NYSE:IPW) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of iPower (NYSE:IPW) in a research report released on Wednesday morning. The brokerage issued a hold rating on the stock.

iPower Price Performance

Shares of IPW stock opened at $0.45 on Wednesday. The stock’s 50-day simple moving average is $0.60 and its 200-day simple moving average is $0.57. iPower has a fifty-two week low of $0.42 and a fifty-two week high of $1.45.

iPower (NYSE:IPW) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $16.80 million during the quarter, compared to analyst estimates of $26.50 million. iPower had a negative net margin of 8.88% and a negative return on equity of 37.62%. As a group, equities analysts predict that iPower will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of iPower

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in iPower by 409.0% during the first quarter. Vanguard Group Inc. now owns 353,924 shares of the company’s stock worth $595,000 after acquiring an additional 284,391 shares during the period. Geode Capital Management LLC grew its holdings in iPower by 91.9% during the second quarter. Geode Capital Management LLC now owns 74,139 shares of the company’s stock worth $82,000 after acquiring an additional 35,498 shares during the period. Renaissance Technologies LLC acquired a new stake in iPower during the first quarter worth about $61,000. Finally, Millennium Management LLC acquired a new stake in iPower during the second quarter worth about $52,000. 2.73% of the stock is owned by institutional investors and hedge funds.

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.