iPower Inc. (NASDAQ:IPW) Short Interest Down 89.8% in August

iPower Inc. (NASDAQ:IPW) was the recipient of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 19,354 shares, a decrease of 89.8% from the July 30th total of 188,903 shares. Based on an average trading volume of 787,900 shares, the short-interest ratio is currently 0.0 days. Approximately 2.8% of the company’s shares are short sold.

iPower Trading Down 6.5%

NASDAQ IPW traded down $0.14 on Wednesday, reaching $2.01. The stock had a trading volume of 123,786 shares, compared to its average volume of 113,194. The company has a quick ratio of 1.81, a current ratio of 2.20 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average price of $10.30 and a two-hundred day moving average price of $73.97. iPower has a 12-month low of $1.93 and a 12-month high of $2,494.80. The firm has a market capitalization of $1.89 million, a price-to-earnings ratio of -0.00 and a beta of 3.00.

Insider Buying and Selling

In other iPower news, major shareholder Financial Lp Hrt acquired 1,993 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was bought at an average cost of $18.72 per share, for a total transaction of $37,308.96. Following the completion of the transaction, the insider owned 8,898 shares of the company’s stock, valued at approximately $166,570.56. The trade was a 28.86% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 25.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of iPower in a report on Wednesday, July 15th. Wall Street Zen lowered shares of iPower from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 9th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, iPower presently has an average rating of “Sell”.

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. It also provides 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.