Shares of iPower Inc. (NASDAQ:IPW – Get Free Report) were down 26.2% on Friday. The company traded as low as $0.5264 and last traded at $0.6795. Approximately 2,214,941 shares traded hands during trading, a decline of 55% from the average session volume of 4,870,569 shares. The stock had previously closed at $0.9202.
Analyst Upgrades and Downgrades
IPW has been the subject of several research reports. Wall Street Zen upgraded shares of iPower from a “strong sell” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of iPower in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has an average rating of “Sell”.
Get Our Latest Stock Analysis on iPower
iPower Stock Down 26.2%
iPower (NASDAQ:IPW – Get Free Report) last issued its quarterly earnings data on Friday, October 2nd. The company reported ($76.06) EPS for the quarter. iPower had a negative return on equity of 26.96% and a negative net margin of 23.43%. The company had revenue of $1.43 million for the quarter.
About iPower
iPower Inc (NASDAQ: IPW) is an e-commerce company that provides equipment and supplies for indoor gardening and hydroponic cultivation. Its product range includes grow lights, grow tents, ventilation and air-movement equipment, hydroponic systems, water pumps, environmental controls, nutrients, and related gardening accessories.
The company sells products through its own online channels and third-party e-commerce marketplaces, primarily serving customers in the United States. Its offerings are marketed under the iPower brand and other product brands, and are designed for home growers, hobbyists, and indoor-cultivation operators.
iPower was established in 2017 and became a publicly traded company on the Nasdaq in 2021.
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