iPower (NYSE:IPW) Downgraded by StockNews.com to Hold

iPower (NYSE:IPW) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

iPower Trading Down 9.8 %

Shares of IPW opened at $1.20 on Wednesday. The company’s fifty day simple moving average is $1.54 and its 200-day simple moving average is $1.61. The company has a market cap of $37.70 million, a P/E ratio of -23.60 and a beta of 4.07. iPower has a twelve month low of $0.40 and a twelve month high of $3.65.

iPower (NYSE:IPW) last posted its quarterly earnings data on Thursday, September 19th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. iPower had a negative net margin of 1.78% and a negative return on equity of 3.74%. The company had revenue of $19.45 million for the quarter, compared to analyst estimates of $21.30 million.

Institutional Trading of iPower

Institutional investors and hedge funds have recently made changes to their positions in the business. Armistice Capital LLC bought a new position in iPower in the second quarter worth approximately $3,043,000. Heron Bay Capital Management bought a new position in shares of iPower during the 2nd quarter worth $65,000. Renaissance Technologies LLC raised its holdings in shares of iPower by 197.8% in the second quarter. Renaissance Technologies LLC now owns 41,100 shares of the company’s stock valued at $85,000 after acquiring an additional 27,300 shares in the last quarter. Finally, Royce & Associates LP purchased a new stake in iPower in the third quarter worth about $26,000. 2.73% of the stock is currently owned by institutional investors.

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.