iPower (NYSE:IPW) Now Covered by StockNews.com

StockNews.com began coverage on shares of iPower (NYSE:IPW) in a report released on Saturday. The brokerage issued a hold rating on the stock.

iPower Price Performance

iPower stock opened at $0.69 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.86 and a quick ratio of 1.25. The company has a market capitalization of $21.69 million, a PE ratio of -9.86 and a beta of 3.67. iPower has a one year low of $0.40 and a one year high of $3.65. The business has a 50 day simple moving average of $0.83 and a 200 day simple moving average of $1.20.

Hedge Funds Weigh In On iPower

Hedge funds and other institutional investors have recently modified their holdings of the stock. Chico Wealth RIA bought a new position in iPower in the 4th quarter valued at $197,000. Renaissance Technologies LLC raised its position in iPower by 197.8% in the 2nd quarter. Renaissance Technologies LLC now owns 41,100 shares of the company’s stock valued at $85,000 after purchasing an additional 27,300 shares during the last quarter. XTX Topco Ltd bought a new position in iPower in the 3rd quarter valued at $55,000. Finally, Royce & Associates LP bought a new position in iPower in the 3rd quarter valued at $26,000. Institutional investors own 2.73% of the company’s stock.

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.