iPower (NYSE:IPW) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of iPower (NYSE:IPW) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the stock.

iPower Stock Down 2.1 %

IPW stock opened at $0.47 on Friday. The company has a market cap of $14.62 million, a PE ratio of 2.45 and a beta of 3.66. The company has a quick ratio of 1.25, a current ratio of 1.95 and a debt-to-equity ratio of 0.19. iPower has a 52 week low of $0.40 and a 52 week high of $3.65. The business has a 50-day simple moving average of $0.58 and a 200 day simple moving average of $0.93.

Institutional Investors Weigh In On iPower

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chico Wealth RIA bought a new position in shares of iPower in the 4th quarter valued at $197,000. Mariner LLC acquired a new stake in iPower in the fourth quarter valued at about $34,000. Two Sigma Investments LP grew its position in iPower by 169.3% in the fourth quarter. Two Sigma Investments LP now owns 51,789 shares of the company’s stock valued at $43,000 after acquiring an additional 32,557 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in iPower during the third quarter worth about $55,000. 2.73% of the stock is currently owned by institutional investors.

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.