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

iPower Inc. (NASDAQ:IPW) was the recipient of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 39,974 shares, a decrease of 80.9% from the May 14th total of 209,311 shares. Based on an average daily volume of 152,476 shares, the days-to-cover ratio is presently 0.3 days. Currently, 8.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of iPower in a research report on Friday, April 17th. Wall Street Zen raised shares of iPower from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, iPower currently has a consensus rating of “Sell”.

iPower Stock Performance

Shares of NASDAQ IPW traded down $0.48 during midday trading on Wednesday, hitting $3.29. 366,310 shares of the company’s stock traded hands, compared to its average volume of 143,041. iPower has a 1 year low of $2.83 and a 1 year high of $277.20. The stock has a market capitalization of $2.17 million, a price-to-earnings ratio of -0.06 and a beta of 2.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.81 and a current ratio of 2.20. The firm has a fifty day moving average of $7.03 and a 200 day moving average of $33.09.

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

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.