iPower Inc. (NASDAQ:IPW – Get Free Report)’s share price fell 0.3% during trading on Thursday . The company traded as low as $0.55 and last traded at $0.5682. 156,838 shares changed hands during trading, a decline of 94% from the average daily volume of 2,417,180 shares. The stock had previously closed at $0.57.
Analyst Upgrades and Downgrades
IPW has been the subject of several analyst reports. Wall Street Zen upgraded iPower from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of iPower in a report on Wednesday, July 15th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, iPower has a consensus rating of “Sell”.
Check Out Our Latest Research Report on IPW
iPower Stock Down 0.3%
iPower (NASDAQ:IPW – Get Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The company reported ($1.44) earnings per share (EPS) for the quarter. The firm had revenue of $3.50 million for the quarter. iPower had a negative return on equity of 26.96% and a negative net margin of 23.43%.During the same quarter in the prior year, the business earned ($5.60) earnings per share.
Insider Buying and Selling at iPower
In other news, major shareholder Financial Lp Hrt acquired 17,944 shares of the stock in a transaction dated Monday, July 6th. The shares were bought at an average cost of $2.08 per share, for a total transaction of $37,323.52. Following the purchase, the insider directly owned 80,088 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 25.96% of the stock is owned by corporate insiders.
iPower Company Profile
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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