iPower Inc. (NASDAQ:IPW) Short Interest Update

iPower Inc. (NASDAQ:IPWGet Rating) was the recipient of a large drop in short interest in May. As of May 15th, there was short interest totalling 181,200 shares, a drop of 60.9% from the April 30th total of 462,900 shares. Based on an average daily volume of 131,900 shares, the days-to-cover ratio is presently 1.4 days. Currently, 2.0% of the shares of the stock are sold short.

Separately, DA Davidson dropped their price objective on iPower to $4.00 and set a “na” rating for the company in a research report on Tuesday, May 17th.

Shares of NASDAQ:IPW traded up $0.03 during mid-day trading on Friday, hitting $1.18. 31,708 shares of the company traded hands, compared to its average volume of 336,090. The firm has a market cap of $31.26 million and a P/E ratio of 59.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.06 and a current ratio of 2.84. iPower has a 52-week low of $1.01 and a 52-week high of $10.73. The firm’s 50 day simple moving average is $1.44 and its 200 day simple moving average is $1.92.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in iPower during the 3rd quarter worth approximately $32,000. FNY Investment Advisers LLC increased its holdings in iPower by 53.6% during the 4th quarter. FNY Investment Advisers LLC now owns 16,749 shares of the company’s stock worth $39,000 after purchasing an additional 5,844 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in iPower during the 1st quarter worth approximately $61,000. Aristides Capital LLC purchased a new stake in iPower during the 3rd quarter worth approximately $79,000. Finally, Vident Investment Advisory LLC purchased a new stake in iPower during the 3rd quarter worth approximately $122,000. Institutional investors and hedge funds own 6.19% of the company’s stock.

iPower Company Profile (Get Rating)

iPower Inc supplies hydroponics equipment online in the United States. It offers various products, including advanced indoor and greenhouse grow-light systems, ventilation systems, activated carbon filters, nutrients, growing media, hydroponic water-resistant grow tents, trimming machines, pumps, and accessories for hydroponic gardening, as well as other indoor and outdoor growing products under the iPower and Simple Deluxe brands through its Zenhydro.com website and various third-party e-commerce channels.

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