iPower Inc. (NASDAQ:IPW) Sees Large Drop in Short Interest

iPower Inc. (NASDAQ:IPW) was the target of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 19,354 shares, a decrease of 89.8% from the July 30th total of 188,903 shares. Currently, 2.8% of the shares of the company are sold short. Based on an average daily volume of 787,900 shares, the days-to-cover ratio is presently 0.0 days.

iPower Stock Performance

IPW stock traded down $0.10 during midday trading on Tuesday, hitting $2.15. 89,184 shares of the stock traded hands, compared to its average volume of 110,371. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.20 and a quick ratio of 1.81. The stock’s fifty day simple moving average is $10.74 and its 200-day simple moving average is $75.89. The firm has a market cap of $2.02 million, a P/E ratio of -0.00 and a beta of 3.00. iPower has a 1-year low of $2.15 and a 1-year high of $2,494.80.

Insider Buying and Selling at iPower

In other iPower news, major shareholder Financial Lp Hrt acquired 1,993 shares of iPower stock in a transaction that occurred on Monday, July 6th. The stock was acquired at an average cost of $18.72 per share, for a total transaction of $37,308.96. Following the purchase, the insider owned 8,898 shares of the company’s stock, valued at approximately $166,570.56. This represents a 28.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 25.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of iPower in a research report on Wednesday, July 15th. Wall Street Zen lowered shares of iPower from a “sell” rating to a “strong sell” rating in a report on Sunday, August 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock 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.