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

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

iPower Trading Down 6.4 %

Shares of IPW stock opened at $0.66 on Friday. iPower has a 1-year low of $0.40 and a 1-year high of $3.65. The company has a market cap of $20.89 million, a price-to-earnings ratio of -9.49 and a beta of 3.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.86 and a quick ratio of 1.25. The stock has a 50 day simple moving average of $0.84 and a 200-day simple moving average of $1.22.

Hedge Funds Weigh In On iPower

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP acquired a new position in shares of iPower during the 3rd quarter worth about $26,000. Renaissance Technologies LLC increased its stake in iPower by 197.8% during the 2nd quarter. Renaissance Technologies LLC now owns 41,100 shares of the company’s stock worth $85,000 after buying an additional 27,300 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of iPower during the third quarter valued at approximately $55,000. Finally, Chico Wealth RIA purchased a new position in shares of iPower in the fourth quarter valued at approximately $197,000. 2.73% of the stock is owned by hedge funds and other institutional investors.

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.