iPower (NYSE:IPW) Posts Earnings Results, Misses Estimates By $0.07 EPS

iPower (NYSE:IPWGet Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07), MarketWatch Earnings reports. iPower had a negative net margin of 11.81% and a negative return on equity of 26.64%. During the same period last year, the company earned ($0.05) earnings per share.

iPower Price Performance

IPW stock opened at $0.77 on Friday. The stock’s 50 day simple moving average is $0.83 and its 200 day simple moving average is $0.76. iPower has a fifty-two week low of $0.35 and a fifty-two week high of $1.45. The company has a quick ratio of 0.96, a current ratio of 1.88 and a debt-to-equity ratio of 0.32.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on iPower in a research note on Thursday. They issued a “hold” rating on the stock.

Get Our Latest Stock Report on iPower

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IPW. Vanguard Group Inc. raised its stake in iPower by 409.0% during the 1st quarter. Vanguard Group Inc. now owns 353,924 shares of the company’s stock worth $595,000 after buying an additional 284,391 shares during the period. Millennium Management LLC acquired a new position in iPower during the 2nd quarter worth approximately $52,000. Renaissance Technologies LLC acquired a new position in iPower during the 1st quarter worth approximately $61,000. Finally, Geode Capital Management LLC raised its stake in iPower by 91.9% during the 2nd quarter. Geode Capital Management LLC now owns 74,139 shares of the company’s stock worth $82,000 after buying an additional 35,498 shares during the period. 2.95% of the stock is owned by institutional investors and hedge funds.

iPower Company Profile

(Get Free Report)

iPower Inc operates as an online retailer and supplier of hydroponics equipment and accessories for commercial businesses and individuals in the United States. It offers 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; 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.

Further Reading

Earnings History for iPower (NYSE:IPW)

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