iPower Inc. (NASDAQ:IPW – Get Free Report) was the target of a large drop in short interest in the month of 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. Based on an average trading volume of 787,900 shares, the short-interest ratio is presently 0.0 days. Approximately 2.8% of the company’s shares are short sold.
Insider Transactions at iPower
In other news, major shareholder Financial Lp Hrt acquired 1,993 shares of the business’s stock in a transaction on Monday, July 6th. The shares were purchased at an average price of $18.72 per share, for a total transaction of $37,308.96. Following the acquisition, the insider directly owned 8,898 shares of the company’s stock, valued at $166,570.56. This represents a 28.86% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 25.96% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on IPW shares. Wall Street Zen downgraded shares of iPower from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of iPower in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, iPower has an average rating of “Sell”.
iPower Price Performance
Shares of IPW traded down $0.11 during mid-day trading on Thursday, hitting $1.89. The company’s stock had a trading volume of 101,491 shares, compared to its average volume of 113,506. 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 firm has a 50-day moving average price of $9.89 and a 200 day moving average price of $72.01. iPower has a fifty-two week low of $1.82 and a fifty-two week high of $2,494.80. The stock has a market capitalization of $1.78 million, a price-to-earnings ratio of -0.00 and a beta of 3.00.
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.
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