iPower (NASDAQ:IPW) Announces Quarterly Earnings Results

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

iPower Price Performance

Shares of IPW stock traded down $0.21 during trading hours on Wednesday, reaching $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 simple moving average is $1.24 and its 200-day simple moving average is $5.10. The company has a market capitalization of $765,600.00, a price-to-earnings ratio of -0.13 and a beta of 3.03. iPower has a fifty-two week low of $0.52 and a fifty-two week high of $34.65. The company has a quick ratio of 1.38, a current ratio of 1.83 and a debt-to-equity ratio of 0.24.

iPower’s stock is going to reverse split on 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 Ratings Changes

Several equities research analysts have issued reports on IPW shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of iPower in a research report on Friday, April 17th. Wall Street Zen cut iPower from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average 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.