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

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

Separately, Roth Mkm increased their price objective on shares of iPower from $1.25 to $2.75 and gave the company a “buy” rating in a research note on Tuesday, June 25th.

iPower Price Performance

Shares of IPW stock opened at $1.84 on Friday. The firm has a 50-day moving average of $1.45 and a 200-day moving average of $1.35. iPower has a one year low of $0.40 and a one year high of $3.65. The company has a market cap of $57.78 million, a P/E ratio of -10.82 and a beta of 3.99.

Institutional Investors Weigh In On iPower

A number of hedge funds have recently made changes to their positions in the business. Armistice Capital LLC bought a new position in iPower during the second quarter valued at about $3,043,000. Renaissance Technologies LLC boosted its stake in iPower by 197.8% in the second quarter. Renaissance Technologies LLC now owns 41,100 shares of the company’s stock valued at $85,000 after acquiring an additional 27,300 shares during the last quarter. Finally, Heron Bay Capital Management bought a new position in shares of iPower during the 2nd quarter valued at approximately $65,000. 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.