iPower (NYSE:IPW) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of iPower (NYSE:IPW) from a buy rating to a hold rating in a research note published on Tuesday.

Separately, Roth Mkm raised their price target on shares of iPower from $1.25 to $2.75 and gave the company a buy rating in a report on Tuesday, June 25th.

iPower Stock Performance

Shares of NYSE IPW opened at $1.62 on Tuesday. iPower has a one year low of $0.40 and a one year high of $3.65. The business’s 50-day moving average price is $2.04 and its two-hundred day moving average price is $1.10.

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

Insider Activity

In related news, CEO Chenlong Tan bought 20,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was purchased at an average price of $1.54 per share, with a total value of $30,800.00. Following the completion of the transaction, the chief executive officer now directly owns 8,063,334 shares of the company’s stock, valued at $12,417,534.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 27.63% of the stock is currently owned by insiders.

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.