iPower Inc. (NASDAQ:IPW) Shares Shorted: Short Interest Down 77.6% in October

iPower Inc. (NASDAQ:IPW) saw a large decline in short interest in October. As of October 30th, there was short interest totaling 49,997 shares, a decline of 77.6% from the October 15th total of 223,305 shares. Based on an average daily trading volume, of 621,315 shares, the short-interest ratio is currently 0.1 days. Currently, 48.1% of the shares of the stock are sold short.

Analysts Set New Price Targets

IPW has been the subject of several research reports. Wall Street Zen upgraded iPower from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of iPower in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the stock presently has a consensus rating of “Sell”.

iPower Stock Down 7.2%

Shares of IPW opened at $1.29 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $135,450.00, a PE ratio of -0.00 and a beta of 3.24. The stock has a fifty day simple moving average of $10.87 and a two-hundred day simple moving average of $753.76. iPower has a 52-week low of $1.25 and a 52-week high of $11,283.84.

iPower (NASDAQ:IPW) last posted its quarterly earnings results on Friday, October 2nd. The company reported ($462.24) earnings per share for the quarter. The firm had revenue of $1.43 million during the quarter. iPower had a negative net margin of 23.43% and a negative return on equity of 47.96%.

About iPower

iPower Inc. (NASDAQ: IPW) is an e-commerce company focused on indoor gardening, hydroponics and related growing supplies. The company serves home gardeners, hobbyists and other consumers seeking equipment for controlled-environment cultivation. Its product offerings include grow lights, grow tents, ventilation and air-movement equipment, hydroponic systems, pumps, growing media, nutrients, containers and other gardening accessories. iPower sells products through its own online channels and third-party e-commerce marketplaces, including platforms such as Amazon and Walmart.