iPower (NYSE:IPW) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of iPower (NYSE:IPW) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Separately, Roth Mkm upped their price objective on iPower from $1.25 to $2.75 and gave the company a buy rating in a report on Tuesday, June 25th.

iPower Price Performance

NYSE IPW opened at $1.41 on Friday. The stock’s 50 day simple moving average is $1.46 and its 200 day simple moving average is $1.34. The firm has a market cap of $44.28 million, a PE ratio of -8.29 and a beta of 3.99. iPower has a one year low of $0.40 and a one year high of $3.65.

Institutional Investors Weigh In On iPower

Large investors have recently made changes to their positions in the stock. Armistice Capital LLC acquired a new position in shares of iPower during the 2nd quarter worth approximately $3,043,000. Heron Bay Capital Management bought a new stake in iPower in the 2nd quarter valued at about $65,000. Finally, Renaissance Technologies LLC grew 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 buying an additional 27,300 shares in the last quarter. 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.