StockNews.com Initiates Coverage on iPower (NYSE:IPW)

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

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

iPower Stock Up 11.8 %

NYSE IPW opened at $2.08 on Friday. The company has a market cap of $62.03 million, a PE ratio of -12.23 and a beta of 4.13. iPower has a 52 week low of $0.40 and a 52 week high of $3.65. The firm’s 50-day simple moving average is $1.60 and its two-hundred day simple moving average is $0.93.

iPower (NYSE:IPW) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. iPower had a negative net margin of 5.74% and a negative return on equity of 23.68%. The company had revenue of $23.31 million for the quarter, compared to analysts’ expectations of $18.60 million. During the same period in the prior year, the company posted ($0.05) EPS. As a group, equities research analysts anticipate that iPower will post -0.06 EPS for the current year.

Insider Buying and Selling

In other news, CEO Chenlong Tan purchased 20,000 shares of iPower stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average cost of $1.54 per share, for a total transaction of $30,800.00. Following the transaction, the chief executive officer now directly owns 8,063,334 shares of the company’s stock, valued at $12,417,534.36. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 27.63% of the stock is currently owned by insiders.

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.