iPower (NASDAQ:IPW) Stock Price Down 0.3% – Here’s What Happened

iPower Inc. (NASDAQ:IPW)’s share price dropped 0.3% during trading on Thursday . The company traded as low as $0.55 and last traded at $0.5682. 156,838 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 2,417,180 shares. The stock had previously closed at $0.57.

Analysts Set New Price Targets

IPW has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of iPower in a research note on Wednesday, July 15th. Wall Street Zen raised iPower from a “strong sell” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

iPower Price Performance

The business’s 50-day moving average price is $2.21 and its 200 day moving average price is $13.11. The stock has a market capitalization of $334,356.00, a PE ratio of -0.01 and a beta of 2.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.81 and a current ratio of 2.20.

iPower (NASDAQ:IPW) last issued its quarterly earnings data on Wednesday, May 20th. The company reported ($1.44) earnings per share (EPS) for the quarter. iPower had a negative return on equity of 26.96% and a negative net margin of 23.43%.The business had revenue of $3.50 million during the quarter. During the same quarter in the previous year, the business earned ($5.60) EPS.

Insider Activity

In other iPower news, major shareholder Financial Lp Hrt acquired 17,944 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was bought at an average price of $2.08 per share, with a total value of $37,323.52. Following the completion of the acquisition, the insider owned 80,088 shares of the company’s stock, valued at $166,583.04. This trade represents a 28.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 25.96% of the company’s stock.

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.