iPower (NASDAQ:IPW) Major Shareholder Financial Lp Hrt Buys 17,944 Shares

iPower Inc. (NASDAQ:IPW) major shareholder Financial Lp Hrt bought 17,944 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider owned 80,088 shares in the company, valued at $166,583.04. This represents a 28.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major 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):

• 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 Stock Up 4.5%

Shares of IPW opened at $1.64 on Friday. The company’s 50-day simple moving average is $3.93 and its 200-day simple moving average is $20.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.81 and a current ratio of 2.20. iPower Inc. has a 1 year low of $1.54 and a 1 year high of $277.20. The stock has a market capitalization of $1.08 million, a PE ratio of -0.03 and a beta of 2.91.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of iPower from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of iPower in a research note on Friday, April 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.