Short Interest in iPower Inc. (NASDAQ:IPW) Grows By 140.8%

iPower Inc. (NASDAQ:IPW) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 46,595 shares, a growth of 140.8% from the August 15th total of 19,354 shares. Based on an average daily volume of 210,570 shares, the short-interest ratio is currently 0.2 days. Currently, 6.7% of the shares of the company are short sold.

iPower Stock Performance

IPW traded up $0.36 during trading on Tuesday, hitting $2.29. The stock had a trading volume of 464,323 shares, compared to its average volume of 111,304. The firm has a market capitalization of $2.15 million, a P/E ratio of -0.00 and a beta of 2.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.81 and a current ratio of 2.20. iPower has a twelve month low of $1.53 and a twelve month high of $2,494.80. The company’s 50-day moving average price is $5.07 and its 200 day moving average price is $48.84.

Insider Buying and Selling at iPower

In other news, major shareholder Financial Lp Hrt purchased 1,993 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were purchased at an average price of $18.72 per share, for a total transaction of $37,308.96. Following the purchase, the insider directly owned 8,898 shares of the company’s stock, valued at $166,570.56. This represents a 28.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IPW. Weiss Ratings reiterated a “sell (e+)” rating on shares of iPower in a research note on Wednesday, July 15th. Wall Street Zen lowered shares of iPower from a “sell” rating to a “strong sell” rating in a research report on Sunday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, iPower has a consensus rating of “Sell”.

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.