iPower (NASDAQ:IPW) Major Shareholder Purchases $37,323.52 in Stock

iPower Inc. (NASDAQ:IPW – Get Free Report) major shareholder Financial Lp Hrt purchased 17,944 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was purchased at an average cost of $2.08 per share, with a total value of $37,323.52. Following the purchase, the insider owned 80,088 shares in the company, valued at approximately $166,583.04. This trade represents a 28.87% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

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• On Tuesday, July 7th, Financial Lp Hrt sold 12,940 shares of iPower stock. The stock was sold at an average price of $1.78, for a total transaction of $23,033.20.

iPower Trading Down 6.7%

Shares of IPW stock traded down $0.11 during trading on Friday, hitting $1.53. 162,819 shares of the stock traded hands, compared to its average volume of 869,329. iPower Inc. has a 52-week low of $1.44 and a 52-week high of $277.20. The firm has a market capitalization of $1.01 million, a P/E ratio of -0.03 and a beta of 2.91. The firm’s fifty day moving average price is $3.81 and its 200-day moving average price is $20.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.20 and a quick ratio of 1.81.

iPower (NASDAQ:IPW – Get Free Report) last issued its quarterly earnings data on Wednesday, May 20th. The company reported ($1.44) earnings per share for the quarter. The business had revenue of $3.50 million during the quarter. iPower had a negative return on equity of 26.96% and a negative net margin of 23.43%.During the same period last year, the firm earned ($5.60) EPS.

Analyst Upgrades and Downgrades

IPW has been the subject of a number of recent analyst reports. Wall Street Zen raised iPower from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of iPower in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

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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. 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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