iPower Inc. (NASDAQ:IPW) Sees Significant Growth in Short Interest

iPower Inc. (NASDAQ:IPW) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 188,903 shares, a growth of 55.9% from the July 15th total of 121,148 shares. Approximately 32.7% of the shares of the stock are sold short. Based on an average trading volume of 3,104,243 shares, the days-to-cover ratio is presently 0.1 days.

Insider Buying and Selling at iPower

In related news, major shareholder Financial Lp Hrt purchased 1,993 shares of iPower stock in a transaction dated Monday, July 6th. The shares were bought 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 in the company, valued at approximately $166,570.56. This trade represents a 28.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 25.96% of the company’s stock.

iPower Stock Performance

Shares of IPW stock opened at $3.06 on Wednesday. The business’s 50-day moving average price is $12.74 and its 200-day moving average price is $84.03. iPower has a 12 month low of $2.92 and a 12 month high of $2,494.80. The firm has a market capitalization of $2.39 million, a price-to-earnings ratio of -0.01 and a beta of 3.01. The company has a current ratio of 2.20, a quick ratio of 1.81 and a debt-to-equity ratio of 0.26.

iPower (NASDAQ:IPW) last released its quarterly earnings results on Wednesday, May 20th. The company reported ($12.96) earnings per share for the quarter. The firm had revenue of $3.50 million for the quarter. iPower had a negative return on equity of 26.96% and a negative net margin of 23.43%.During the same quarter in the prior year, the business posted ($50.40) EPS.

Wall Street Analysts Forecast Growth

IPW has been the subject of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of iPower in a research note on Wednesday, July 15th. Wall Street Zen cut shares of iPower from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 9th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently 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.