iPower (NYSE:IPW) Research Coverage Started at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of iPower (NYSE:IPW) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the stock.

iPower Stock Performance

IPW opened at $0.40 on Wednesday. The business’s 50-day simple moving average is $0.60 and its 200-day simple moving average is $0.56. iPower has a one year low of $0.40 and a one year high of $1.45. The stock has a market capitalization of $11.94 million, a P/E ratio of -1.60 and a beta of 2.80.

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

Hedge Funds Weigh In On iPower

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of iPower by 409.0% during the first 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 last quarter. Geode Capital Management LLC grew its holdings in shares of iPower by 91.9% during the second 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 last quarter. Renaissance Technologies LLC purchased a new position in shares of iPower during the first quarter worth about $61,000. Finally, Millennium Management LLC purchased a new position in shares of iPower during the second quarter worth about $52,000. Hedge funds and other institutional investors own 2.73% of the company’s stock.

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.