iPower Inc. (NYSE:IPW) CEO Purchases $30,800.00 in Stock

iPower Inc. (NYSE:IPW) CEO Chenlong Tan purchased 20,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average price of $1.54 per share, for a total transaction of $30,800.00. Following the completion of the transaction, the chief executive officer now directly owns 8,063,334 shares of the company’s stock, valued at $12,417,534.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

iPower Stock Up 6.4 %

iPower stock opened at $1.49 on Friday. iPower Inc. has a 12-month low of $0.40 and a 12-month high of $3.48. The firm’s 50-day moving average is $0.69 and its two-hundred day moving average is $0.62.

iPower (NYSE:IPW) last announced its earnings results on Tuesday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The firm had revenue of $23.31 million for the quarter, compared to analyst estimates of $18.60 million. iPower had a negative net margin of 5.74% and a negative return on equity of 23.68%. During the same quarter last year, the business earned ($0.05) earnings per share. On average, research analysts anticipate that iPower Inc. will post -0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IPW. StockNews.com initiated coverage on iPower in a research note on Sunday, May 19th. They issued a “hold” rating on the stock. Roth Mkm upped their price objective on iPower from $1.00 to $1.25 and gave the company a “buy” rating in a research report on Wednesday, May 15th.

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.