iPower (NASDAQ:IPW) Issues Quarterly Earnings Results

iPower (NASDAQ:IPW) posted its earnings results on Wednesday. The company reported ($0.18) EPS for the quarter, Zacks reports. iPower had a negative net margin of 10.35% and a negative return on equity of 26.09%. The business had revenue of $3.50 million during the quarter. During the same quarter in the prior year, the company posted ($0.70) EPS.

iPower Stock Down 27.0%

iPower stock traded down $0.21 during mid-day trading on Wednesday, hitting $0.58. The company’s stock had a trading volume of 1,165,619 shares, compared to its average volume of 715,438. The firm’s 50 day moving average is $1.24 and its 200 day moving average is $5.10. The company has a market cap of $765,600.00, a PE ratio of -0.13 and a beta of 3.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.83 and a quick ratio of 1.38. iPower has a 52-week low of $0.52 and a 52-week high of $34.65.

Shares of iPower are scheduled to reverse split on the morning of Friday, May 22nd. The 1-8 reverse split was announced on Tuesday, May 19th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, May 21st.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IPW. Weiss Ratings reissued a “sell (e+)” rating on shares of iPower in a research note on Friday, April 17th. Wall Street Zen cut iPower from a “hold” rating to a “strong sell” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, iPower presently has a consensus rating of “Sell”.

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.