iPower Inc. (NASDAQ:IPW) Sees Large Growth in Short Interest

iPower Inc. (NASDAQ:IPW – Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 188,903 shares, an increase of 55.9% from the July 15th total of 121,148 shares. Based on an average daily volume of 3,104,243 shares, the days-to-cover ratio is presently 0.1 days. Approximately 32.7% of the shares of the stock are short sold.

iPower Trading Down 7.9%

Shares of iPower stock opened at $3.14 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.20 and a quick ratio of 1.81. The stock’s 50 day simple moving average is $13.36 and its 200-day simple moving average is $86.25. The stock has a market cap of $2.45 million, a P/E ratio of -0.01 and a beta of 3.01. iPower has a 1-year low of $2.97 and a 1-year high of $2,494.80.

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iPower (NASDAQ:IPW – Get Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The company reported ($12.96) EPS for the quarter. iPower had a negative net margin of 23.43% and a negative return on equity of 26.96%. The company had revenue of $3.50 million during the quarter. During the same period in the previous year, the company posted ($50.40) earnings per share.

Insider Buying and Selling

In other news, major shareholder Financial Lp Hrt acquired 1,993 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were bought at an average price of $18.72 per share, for a total transaction of $37,308.96. Following the acquisition, the insider owned 8,898 shares of the company’s stock, valued at approximately $166,570.56. This trade represents a 28.86% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 25.96% of the company’s stock.

Analyst Ratings Changes

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

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iPower Company Profile

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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. 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.

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