Insider Buying: iPower Inc. (NYSE:IPW) CEO Buys 20,000 Shares of Stock

iPower Inc. (NYSE:IPWGet Free Report) CEO Chenlong Tan acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average cost of $1.54 per share, with a total value of $30,800.00. Following the purchase, the chief executive officer now owns 8,063,334 shares of the company’s stock, valued at $12,417,534.36. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

iPower Price Performance

IPW opened at $1.40 on Thursday. iPower Inc. has a 52 week low of $0.40 and a 52 week high of $3.48. The firm has a 50-day simple moving average of $0.68 and a two-hundred day simple moving average of $0.62.

iPower (NYSE:IPWGet Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. The business had revenue of $23.31 million for the quarter, compared to analysts’ expectations of $18.60 million. iPower had a negative return on equity of 23.68% and a negative net margin of 5.74%. During the same period in the prior year, the firm earned ($0.05) EPS. As a group, equities research analysts anticipate that iPower Inc. will post -0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com began coverage on iPower in a report on Sunday. They issued a “hold” rating on the stock. Roth Mkm boosted their target price on shares of iPower from $1.00 to $1.25 and gave the stock a “buy” rating in a report on Wednesday, May 15th.

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About iPower

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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.

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