iPower Inc. (NASDAQ:IPW) Sees Large Drop in Short Interest

iPower Inc. (NASDAQ:IPW) was the target of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 39,974 shares, a decline of 80.9% from the May 14th total of 209,311 shares. Based on an average daily volume of 152,476 shares, the days-to-cover ratio is presently 0.3 days. Approximately 8.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IPW shares. Wall Street Zen upgraded iPower from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of iPower in a research report on Friday, April 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, iPower currently has a consensus rating of “Sell”.

iPower Stock Down 5.6%

NASDAQ:IPW traded down $0.18 during trading hours on Friday, reaching $3.04. 576,054 shares of the stock were exchanged, compared to its average volume of 160,583. iPower has a twelve month low of $2.83 and a twelve month high of $277.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.20 and a quick ratio of 1.81. The firm has a 50 day moving average of $6.72 and a 200 day moving average of $32.09. The stock has a market cap of $2.01 million, a PE ratio of -0.06 and a beta of 2.85.

iPower (NASDAQ:IPW) last released its quarterly earnings results on Wednesday, May 20th. The company reported ($1.44) earnings per share for the quarter. iPower had a negative return on equity of 26.96% and a negative net margin of 23.43%.The firm had revenue of $3.50 million for the quarter. During the same period in the prior year, the business posted ($5.60) earnings per share.

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. It also provides general gardening products, including environmental sensors and controls; and home products, which comprise commercial fans, floor and wall fans, storage and shelving units, and chairs.