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

Research analysts at StockNews.com initiated coverage on shares of iPower (NYSE:IPW) in a research note issued on Friday. The brokerage set a “hold” rating on the stock.

Separately, Roth Mkm increased their price target on shares of iPower from $1.25 to $2.75 and gave the company a “buy” rating in a report on Tuesday.

iPower Stock Up 8.8 %

Shares of NYSE:IPW opened at $1.86 on Friday. iPower has a 52 week low of $0.40 and a 52 week high of $3.65. The company has a 50-day moving average price of $1.57 and a 200 day moving average price of $0.92. The company has a market cap of $55.47 million, a P/E ratio of -10.94 and a beta of 4.13.

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

Insider Buying and Selling

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