iPower (NASDAQ:IPW) Major Shareholder Financial Lp Hrt Sells 12,940 Shares

iPower Inc. (NASDAQ:IPW) major shareholder Financial Lp Hrt sold 12,940 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $1.78, for a total transaction of $23,033.20. Following the transaction, the insider owned 67,148 shares in the company, valued at $119,523.44. This represents a 16.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Monday, July 6th, Financial Lp Hrt bought 17,944 shares of iPower stock. The stock was purchased at an average price of $2.08 per share, with a total value of $37,323.52.

iPower Stock Performance

Shares of IPW opened at $1.64 on Friday. iPower Inc. has a one year low of $1.54 and a one year high of $277.20. The company has a market cap of $1.08 million, a PE ratio of -0.03 and a beta of 2.91. The stock has a 50-day moving average of $3.93 and a 200-day moving average of $20.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.20 and a quick ratio of 1.81.

iPower (NASDAQ:IPW) last posted its quarterly earnings results on Wednesday, May 20th. The company reported ($1.44) earnings per share for the quarter. The firm had revenue of $3.50 million for the quarter. iPower had a negative return on equity of 26.96% and a negative net margin of 23.43%.During the same quarter in the prior year, the business posted ($5.60) earnings per share.

Wall Street Analyst Weigh In

Several research firms have weighed in on IPW. Wall Street Zen upgraded shares of iPower from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of iPower in a report on Friday, April 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

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. It also provides general gardening products, including environmental sensors and controls; and home products, which comprise commercial fans, floor and wall fans, storage and shelving units, and chairs.