Chenlong Tan Purchases 20,000 Shares of iPower Inc. (NYSE:IPW) Stock

iPower Inc. (NYSE:IPW) CEO Chenlong Tan bought 20,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were purchased at an average cost of $1.54 per share, with a total value of $30,800.00. Following the transaction, the chief executive officer now owns 8,063,334 shares in the company, valued at $12,417,534.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

iPower Stock Performance

NYSE:IPW opened at $1.49 on Friday. The firm’s 50-day moving average is $0.69 and its 200-day moving average is $0.62. iPower Inc. has a 52-week low of $0.40 and a 52-week high of $3.48.

iPower (NYSE:IPW) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. iPower had a negative net margin of 5.74% and a negative return on equity of 23.68%. The company had revenue of $23.31 million for the quarter, compared to the consensus estimate of $18.60 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. Sell-side analysts forecast that iPower Inc. will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IPW shares. StockNews.com started coverage on iPower in a research report on Sunday, May 19th. They set a “hold” rating for the company. Roth Mkm raised their price objective on shares of iPower from $1.00 to $1.25 and gave the stock a “buy” rating in a research note on Wednesday, May 15th.

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.