iPower (NYSE:IPW) Lowered to Hold at StockNews.com

iPower (NYSE:IPW) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Roth Mkm increased their target price on shares of iPower from $1.25 to $2.75 and gave the company a “buy” rating in a report on Tuesday, June 25th.

iPower Stock Down 21.0 %

NYSE IPW opened at $1.28 on Friday. iPower has a 52-week low of $0.40 and a 52-week high of $3.65. The stock has a market capitalization of $40.20 million, a P/E ratio of -7.53 and a beta of 3.99. The firm has a 50-day moving average price of $1.47 and a 200 day moving average price of $1.32.

Institutional Trading of iPower

A number of hedge funds have recently bought and sold shares of IPW. Renaissance Technologies LLC boosted its position in iPower by 197.8% during the second quarter. Renaissance Technologies LLC now owns 41,100 shares of the company’s stock worth $85,000 after acquiring an additional 27,300 shares during the last quarter. Heron Bay Capital Management acquired a new stake in iPower during the second quarter worth approximately $65,000. Finally, Armistice Capital LLC acquired a new stake in iPower during the second quarter worth approximately $3,043,000. Institutional investors and hedge funds own 2.73% of the company’s stock.

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.