The Vanguard Group, Inc. recently announced the acquisition of new stake in iPower Inc. (NASDAQ:IPW). The institutional investor has increased its shareholding in the Consumer Cyclical company by 21.73% to 0.43 million shares with purchase of 76583.0 shares. This fresh investment now brings its stake to 1.45% valued currently at $0.17 million. In addition, Tower Research Capital LLC raised its holdings by 3481.0 to 7311.0 shares. And UBS Securities LLC has lifted its position by 274.93% or 4715.0 shares – to 6430.0 shares.
With over 0.63 million iPower Inc. (IPW) shares trading Friday and a closing price of $0.77 on the day, the dollar volume was approximately $0.48 million. The shares have shown a negative half year performance of -32.46% and its price on 01/13/23 gained nearly 50.42%. Currently, there are 29.67M common shares owned by the public and among those 13.44M shares have been available to trade.
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Insiders at the company have transacted a total of 2 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 49,600 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in iPower Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and iShares Tr. – Micro Cap ETF. Vanguard Total Stock Market Index owns 0.39 million shares of the company’s stock, all valued at over $0.15 million. iShares Tr. – Micro Cap ETF now owns shares totaling to 0.10% of the shares outstanding.
Shares of iPower Inc. (NASDAQ: IPW) opened at $0.483, down -$0.03 from a prior closing price of $0.51. However, the script later moved the day high at 0.8400, up 50.42%. The company’s stock has a 5-day price change of 79.07% and 45.89% over the past three months. IPW shares are trading 92.50% year to date (YTD), with the 12-month market performance down to -61.69% lower. It has a 12-month low price of $0.35 and touched a high of $2.35 over the same period. IPW has an average intraday trading volume of 29.01K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 77.61%, 60.99%, and -20.30% respectively.
Institutional ownership of iPower Inc. (NASDAQ: IPW) shares accounts for 1.90% of the company’s 29.67M shares outstanding. Mutual fund holders own 0.16%, while other institutional holders and individual stakeholders account for 1.69% and 0.04% respectively.
It has a market capitalization of $15.10M. The earnings-per-share (ttm) stands at -$0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 27.57% over the week and 16.46% over the month.
Analysts forecast that iPower Inc. (IPW) will achieve an EPS of $0 for the current quarter, $0.02 for the next quarter and $0.21 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.01 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was $0.03 a year ago. Earnings per share for the fiscal year are expected to increase by 248.70%, and 166.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate iPower Inc. (IPW) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
