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

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

iPower Trading Down 5.0 %

IPW stock opened at $0.55 on Friday. The firm has a 50 day simple moving average of $0.62 and a 200-day simple moving average of $0.59. The company has a market capitalization of $16.28 million, a P/E ratio of -2.18 and a beta of 2.89. iPower has a twelve month low of $0.42 and a twelve month high of $1.45.

iPower (NYSE:IPW) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $16.80 million for the quarter, compared to the consensus estimate of $26.50 million. iPower had a negative net margin of 8.88% and a negative return on equity of 37.62%. On average, research analysts predict that iPower will post -0.2 EPS for the current year.

Institutional Trading of iPower

Several hedge funds and other institutional investors have recently bought and sold shares of IPW. Vanguard Group Inc. increased its stake in iPower by 409.0% during the first quarter. Vanguard Group Inc. now owns 353,924 shares of the company’s stock valued at $595,000 after purchasing an additional 284,391 shares during the last quarter. Geode Capital Management LLC grew its position in shares of iPower by 91.9% during the 2nd quarter. Geode Capital Management LLC now owns 74,139 shares of the company’s stock valued at $82,000 after buying an additional 35,498 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in iPower during the first quarter worth about $61,000. Finally, Millennium Management LLC bought a new position in iPower in the second quarter worth about $52,000. 2.73% of the stock is owned by institutional investors.

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.