Insider Selling: iPower (NASDAQ:IPW) Major Shareholder Sells $23,033.20 in Stock

iPower Inc. (NASDAQ:IPW) major shareholder Financial Lp Hrt sold 12,940 shares of iPower stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $1.78, for a total value of $23,033.20. Following the completion of the sale, the insider directly owned 67,148 shares of the company’s stock, valued at $119,523.44. The trade was a 16.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Monday, July 6th, Financial Lp Hrt acquired 17,944 shares of iPower stock. The shares were purchased at an average price of $2.08 per share, with a total value of $37,323.52.

iPower Stock Performance

IPW stock traded down $0.11 during trading on Friday, reaching $1.53. The stock had a trading volume of 162,819 shares, compared to its average volume of 869,329. The firm has a market cap of $1.01 million, a PE ratio of -0.03 and a beta of 2.91. The company has a current ratio of 2.20, a quick ratio of 1.81 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average is $3.81 and its two-hundred day moving average is $20.25. iPower Inc. has a 52 week low of $1.44 and a 52 week high of $277.20.

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

Analyst Ratings Changes

IPW has been the topic of several recent research reports. Wall Street Zen upgraded shares of iPower from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of iPower in a research report on Friday, April 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

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. 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.