iPower (NYSE:IPW) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of iPower (NYSE:IPW) in a note issued to investors on Friday. The brokerage set a “hold” rating on the stock.

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

iPower Price Performance

NYSE:IPW opened at $2.08 on Friday. The business’s 50-day simple moving average is $1.60 and its 200-day simple moving average is $0.93. The stock has a market capitalization of $62.02 million, a PE ratio of -12.24 and a beta of 4.13. iPower has a fifty-two week low of $0.40 and a fifty-two week high of $3.65.

iPower (NYSE:IPW) last announced its earnings results on Tuesday, May 14th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.11. The company had revenue of $23.31 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned ($0.05) earnings per share. On average, research analysts expect that iPower will post -0.06 earnings per share for the current year.

Insider Activity at iPower

In related news, CEO Chenlong Tan purchased 20,000 shares of iPower stock in a transaction on 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 purchase was disclosed in a filing with the SEC, which is available at the SEC website. 27.63% of the stock is owned by insiders.

iPower Company Profile

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.