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

Stock analysts at StockNews.com assumed coverage on shares of iPower (NYSE:IPW) in a research report issued on Thursday. The brokerage set a “hold” rating on the stock.

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

iPower Trading Down 4.3 %

Shares of IPW opened at $2.00 on Thursday. The firm has a market capitalization of $59.64 million, a P/E ratio of -11.76 and a beta of 4.13. iPower has a 12-month low of $0.40 and a 12-month high of $3.65. The firm has a fifty day moving average price of $1.41 and a 200-day moving average price of $0.87.

iPower (NYSE:IPW) last issued its earnings results on Tuesday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The firm had revenue of $23.31 million during the quarter, compared to analyst estimates of $18.60 million. iPower had a negative net margin of 5.74% and a negative return on equity of 23.68%. During the same period in the previous year, the firm earned ($0.05) earnings per share. Analysts predict that iPower will post -0.1 earnings per share for the current year.

Insider Activity at iPower

In other news, CEO Chenlong Tan bought 20,000 shares of iPower stock in a transaction on Tuesday, May 21st. The stock was acquired at an average cost of $1.54 per share, for a total transaction of $30,800.00. Following the completion of the acquisition, the chief executive officer now owns 8,063,334 shares of the company’s stock, valued at approximately $12,417,534.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 27.63% of the stock is currently owned by corporate insiders.

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.