iPower Inc. (NASDAQ:IPW) Short Interest Update

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

iPower Price Performance

Shares of IPW traded down $0.10 during mid-day trading on Tuesday, reaching $2.15. The company had a trading volume of 89,184 shares, compared to its average volume of 110,371. The company’s 50 day simple moving average is $10.74 and its 200 day simple moving average is $75.89. iPower has a 1-year low of $2.15 and a 1-year high of $2,494.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.81 and a current ratio of 2.20. The company has a market capitalization of $2.02 million, a price-to-earnings ratio of -0.00 and a beta of 3.00.

Insider Transactions at iPower

In related news, major shareholder Financial Lp Hrt bought 1,993 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were acquired at an average price of $18.72 per share, with a total value of $37,308.96. Following the completion of the transaction, the insider owned 8,898 shares in the company, valued at $166,570.56. The trade was a 28.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 25.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IPW shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of iPower in a report on Wednesday, July 15th. Wall Street Zen cut iPower from a “sell” rating to a “strong sell” rating in a report on Sunday, August 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat, iPower currently has a consensus 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.