iPower Inc. (NASDAQ:IPW) Shares Shorted: Short Interest Down 77.6% in October

iPower Inc. (NASDAQ:IPW) saw a large decrease in short interest in the month of October. As of October 30th, there was short interest totaling 49,997 shares, a decrease of 77.6% from the October 15th total of 223,305 shares. Based on an average daily volume of 621,315 shares, the short-interest ratio is presently 0.1 days. Currently, 48.1% of the company’s shares are sold short.

iPower Trading Down 3.9%

Shares of IPW stock traded down $0.05 during trading hours on Friday, reaching $1.24. The company had a trading volume of 46,810 shares, compared to its average volume of 109,004. iPower has a 1-year low of $1.21 and a 1-year high of $11,283.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market cap of $136,400.00, a price-to-earnings ratio of -0.00 and a beta of 3.24. The company has a 50 day moving average of $10.46 and a 200 day moving average of $733.94.

iPower (NASDAQ:IPW) last announced its quarterly earnings data on Friday, October 2nd. The company reported ($462.24) EPS for the quarter. The company had revenue of $1.43 million for the quarter. iPower had a negative return on equity of 47.96% and a negative net margin of 23.43%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IPW. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of iPower in a research note on Tuesday, October 13th. Wall Street Zen raised shares of iPower from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 10th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, iPower has a consensus rating of “Sell”.

About iPower

iPower Inc. (NASDAQ: IPW) is an e-commerce company focused on indoor gardening, hydroponics and related growing supplies. The company serves home gardeners, hobbyists and other consumers seeking equipment for controlled-environment cultivation. Its product offerings include grow lights, grow tents, ventilation and air-movement equipment, hydroponic systems, pumps, growing media, nutrients, containers and other gardening accessories. iPower sells products through its own online channels and third-party e-commerce marketplaces, including platforms such as Amazon and Walmart.