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

Stock analysts at StockNews.com began coverage on shares of iPower (NYSE:IPW) in a report released on Wednesday. The firm set a “hold” rating on the stock.

iPower Price Performance

Shares of IPW stock opened at $0.50 on Wednesday. The stock’s fifty day simple moving average is $0.73 and its 200 day simple moving average is $1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.95 and a quick ratio of 1.25. The firm has a market cap of $15.72 million, a price-to-earnings ratio of 2.63 and a beta of 3.69. iPower has a one year low of $0.40 and a one year high of $3.65.

Hedge Funds Weigh In On iPower

Several institutional investors have recently bought and sold shares of the business. Two Sigma Investments LP raised its position in iPower by 169.3% in the 4th quarter. Two Sigma Investments LP now owns 51,789 shares of the company’s stock valued at $43,000 after purchasing an additional 32,557 shares during the last quarter. Mariner LLC bought a new position in iPower in the 4th quarter valued at $34,000. Chico Wealth RIA bought a new position in iPower in the 4th quarter valued at $197,000. XTX Topco Ltd bought a new position in iPower in the 3rd quarter valued at $55,000. Finally, Royce & Associates LP bought a new position in iPower in the 3rd quarter valued at $26,000. Institutional investors 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.