iPower (NASDAQ:IPW) Issues Earnings Results

iPower (NASDAQ:IPW) released its quarterly earnings results on Friday. The company reported ($76.06) EPS for the quarter, FiscalAI reports. iPower had a negative net margin of 23.43% and a negative return on equity of 26.96%. The business had revenue of $1.43 million during the quarter.

iPower Stock Down 1.8%

Shares of NASDAQ IPW opened at $1.12 on Friday. iPower has a 1 year low of $1.04 and a 1 year high of $2,095.20. The firm’s 50 day moving average price is $2.59 and its 200 day moving average price is $35.23. The firm has a market cap of $1.31 million, a P/E ratio of -0.00 and a beta of 2.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.81 and a current ratio of 2.20.

Insider Buying and Selling at iPower

In other iPower news, major shareholder Financial Lp Hrt bought 1,993 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was purchased at an average cost of $18.72 per share, for a total transaction of $37,308.96. Following the completion of the purchase, the insider owned 8,898 shares of the company’s stock, valued at $166,570.56. This trade represents a 28.86% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

IPW has been the topic of a number of recent research reports. Wall Street Zen lowered iPower from a “sell” rating to a “strong sell” rating in a research note on Sunday, September 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of iPower in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

iPower Company Profile

iPower Inc is an e-commerce retailer and supplier of hydroponic equipment, indoor gardening products and related growing supplies. The company serves home growers, hobbyists and other customers seeking equipment for controlled-environment cultivation.

Its product range includes grow lights, grow tents, ventilation systems, fans, carbon filters, air and water pumps, growing media, nutrients, containers and other gardening tools and accessories. iPower sells products through its own online channels and major third-party e-commerce marketplaces.

Based in Duarte, California, iPower primarily serves customers in the United States through its online distribution model.