iPower (NYSE:IPW) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of iPower (NYSE:IPW) from a hold rating to a buy rating in a report issued on Sunday.

Separately, Roth Mkm increased their target price on shares of iPower from $1.25 to $2.75 and gave the stock a buy rating in a research report on Tuesday, June 25th.

iPower Stock Up 4.4 %

Shares of IPW stock opened at $2.15 on Friday. iPower has a 12-month low of $0.40 and a 12-month high of $3.65. The firm has a 50 day moving average price of $1.46 and a two-hundred day moving average price of $1.38. The company has a market capitalization of $67.52 million, a PE ratio of -13.12 and a beta of 3.99.

Hedge Funds Weigh In On iPower

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Armistice Capital LLC bought a new stake in shares of iPower during the second quarter worth about $3,043,000. Heron Bay Capital Management acquired a new stake in iPower during the 2nd quarter worth approximately $65,000. Finally, Renaissance Technologies LLC boosted its position in iPower by 197.8% during the 2nd quarter. Renaissance Technologies LLC now owns 41,100 shares of the company’s stock worth $85,000 after buying an additional 27,300 shares during the period. Institutional investors and hedge funds own 2.73% of the company’s stock.

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.