iPower (NYSE:IPW) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of iPower (NYSE:IPW) in a research note published on Wednesday morning. The brokerage issued a hold rating on the stock.

iPower Stock Down 10.0 %

IPW stock opened at $0.45 on Wednesday. iPower has a twelve month low of $0.42 and a twelve month high of $1.45. The business’s 50-day moving average price is $0.60 and its 200-day moving average price is $0.57.

iPower (NYSE:IPW) last posted its quarterly 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 business had revenue of $16.80 million during the quarter, compared to analysts’ expectations of $26.50 million. On average, analysts expect that iPower will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IPW. Vanguard Group Inc. lifted its holdings in iPower by 409.0% in the 1st quarter. Vanguard Group Inc. now owns 353,924 shares of the company’s stock worth $595,000 after purchasing an additional 284,391 shares in the last quarter. Renaissance Technologies LLC bought a new stake in iPower in the 1st quarter worth approximately $61,000. Millennium Management LLC bought a new stake in iPower in the 2nd quarter worth approximately $52,000. Finally, Geode Capital Management LLC increased its stake in iPower by 91.9% in the 2nd quarter. Geode Capital Management LLC now owns 74,139 shares of the company’s stock worth $82,000 after acquiring an additional 35,498 shares during the last quarter. 2.73% of the stock is owned by hedge funds and other institutional investors.

About iPower

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.