iPower (NYSE:IPW) Downgraded by StockNews.com to “Hold”

iPower (NYSE:IPW) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

iPower Stock Up 3.9 %

NYSE:IPW traded up $0.05 during trading hours on Wednesday, hitting $1.33. 309,525 shares of the stock traded hands, compared to its average volume of 337,674. The stock has a 50 day moving average price of $1.54 and a 200 day moving average price of $1.61. The company has a market cap of $41.79 million, a price-to-earnings ratio of -26.59 and a beta of 4.07. iPower has a 1 year low of $0.40 and a 1 year high of $3.65.

iPower (NYSE:IPW) last posted its earnings results on Thursday, September 19th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $19.45 million during the quarter, compared to analysts’ expectations of $21.30 million. iPower had a negative net margin of 1.78% and a negative return on equity of 3.74%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP acquired a new position in shares of iPower in the third quarter valued at about $26,000. Heron Bay Capital Management acquired a new stake in shares of iPower in the second quarter valued at about $65,000. Renaissance Technologies LLC boosted its holdings in iPower by 197.8% in 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 last quarter. Finally, Armistice Capital LLC purchased a new stake in shares of iPower during the second quarter worth approximately $3,043,000. 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.