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

StockNews.com upgraded shares of iPower (NYSE:IPW) from a hold rating to a buy rating in a research report released on Thursday morning.

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 Trading Down 1.5 %

Shares of IPW opened at $1.29 on Thursday. The stock has a 50 day simple moving average of $1.50 and a 200-day simple moving average of $1.29. The stock has a market cap of $40.51 million, a PE ratio of -7.59 and a beta of 3.99. iPower has a 1 year low of $0.40 and a 1 year high of $3.65.

Institutional Investors Weigh In On iPower

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IPW. Renaissance Technologies LLC lifted its position in shares of iPower by 197.8% during the second quarter. Renaissance Technologies LLC now owns 41,100 shares of the company’s stock worth $85,000 after purchasing an additional 27,300 shares in the last quarter. Heron Bay Capital Management bought a new position in iPower in the 2nd quarter worth approximately $65,000. Finally, Armistice Capital LLC acquired a new position in iPower during the 2nd quarter worth $3,043,000. Institutional investors and hedge funds 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.