iPower Inc. (NASDAQ:IPW) Short Interest Up 55.9% in July

iPower Inc. (NASDAQ:IPW) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 188,903 shares, a growth of 55.9% from the July 15th total of 121,148 shares. Approximately 32.7% of the shares of the stock are sold short. Based on an average daily volume of 3,104,243 shares, the days-to-cover ratio is presently 0.1 days.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

IPW has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of iPower in a report on Wednesday, July 15th. Wall Street Zen downgraded iPower from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 9th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

iPower Stock Down 7.9%

Shares of NASDAQ IPW opened at $3.14 on Tuesday. The company’s 50-day simple moving average is $13.36 and its 200-day simple moving average is $86.25. iPower has a 52-week low of $2.97 and a 52-week high of $2,494.80. The firm has a market cap of $2.45 million, a price-to-earnings ratio of -0.01 and a beta of 3.01. The company has a quick ratio of 1.81, a current ratio of 2.20 and a debt-to-equity ratio of 0.26.

iPower (NASDAQ:IPW) last released its quarterly earnings results on Wednesday, May 20th. The company reported ($12.96) earnings per share for the quarter. The company had revenue of $3.50 million for the quarter. iPower had a negative return on equity of 26.96% and a negative net margin of 23.43%.During the same period in the previous year, the business posted ($50.40) EPS.

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.