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

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

iPower Price Performance

IPW traded down $0.48 during trading on Wednesday, reaching $3.29. 366,310 shares of the company traded hands, compared to its average volume of 143,041. 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 12-month low of $2.83 and a 12-month high of $277.20. The firm has a fifty day simple moving average of $7.03 and a 200 day simple moving average of $33.09. The company has a market cap of $2.17 million, a P/E ratio of -0.06 and a beta of 2.85.

iPower (NASDAQ:IPW) last announced its quarterly earnings data on Wednesday, May 20th. The company reported ($1.44) earnings per share (EPS) for the quarter. iPower had a negative net margin of 23.43% and a negative return on equity of 26.96%. The company 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.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of 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 research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average 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.