StockNews.com Begins Coverage on iPower (NYSE:IPW)

StockNews.com initiated coverage on shares of iPower (NYSE:IPW) in a research report sent to investors on Wednesday morning. The brokerage issued a hold rating on the stock.

iPower Stock Performance

Shares of NYSE:IPW opened at $0.40 on Wednesday. The business has a fifty day simple moving average of $0.59 and a 200 day simple moving average of $0.56. iPower has a 1 year low of $0.40 and a 1 year high of $1.45.

iPower (NYSE:IPW) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $16.80 million for the quarter, compared to analyst estimates of $26.50 million. iPower had a negative net margin of 8.88% and a negative return on equity of 37.62%. Analysts expect that iPower will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iPower

Several hedge funds have recently bought and sold shares of IPW. Vanguard Group Inc. boosted its stake in shares of iPower by 21.6% during the 3rd quarter. Vanguard Group Inc. now owns 430,507 shares of the company’s stock worth $289,000 after acquiring an additional 76,583 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 35,498 shares during the last quarter. Millennium Management LLC bought a new stake in iPower during the second quarter worth approximately $52,000. Finally, Renaissance Technologies LLC acquired a new position in iPower during the first quarter valued at approximately $61,000. 2.73% of the stock is owned by institutional investors and hedge funds.

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.