Weak Fundamental Momentum Pushes iPower Inc (IPW) Lower

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iPower Inc (NASDAQ:IPW) has a beta value of 4.03 and has seen 1.46 million shares traded in the last trading session. The company, currently valued at $63.49M, closed the last trade at $2.02 per share which meant it gained $0.43 on the day or 27.04% during that session. The IPW stock price is -80.69% off its 52-week high price of $3.65 and 80.2% above the 52-week low of $0.40. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.75 million shares traded. The 3-month trading volume is 294.88K shares.

iPower Inc (NASDAQ:IPW) trade information

Sporting 27.04% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the IPW stock price touched $2.02 or saw a rise of 1.46%. Year-to-date, iPower Inc shares have moved 348.89%, while the 5-day performance has seen it change 23.55%. Over the past 30 days, the shares of iPower Inc (NASDAQ:IPW) have changed 40.28%. Short interest in the company has seen 0.49 million shares shorted with days to cover at 1.27.

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iPower Inc (IPW) estimates and forecasts

Figures show that iPower Inc shares have outperformed across the wider relevant industry. The company’s shares have gained 327.88% over the past 6 months, with this year growth rate of 1,400.00%, compared to 1.30% for the industry. Revenue growth from the last financial year stood is estimated to be 7.20%.

1 analysts offering their estimates for the company have set an average revenue estimate of 20.9M for the current quarter. 1 have an estimated revenue figure of 19.2M for the next ending quarter.

IPW Dividends

iPower Inc is expected to release its next earnings report on 2024-Sep-19 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

iPower Inc (NASDAQ:IPW)’s Major holders

Insiders own 58.34% of the company shares, while shares held by institutions stand at 7.30% with a share float percentage of 17.52%. Investors are also buoyed by the number of investors in a company, with iPower Inc having a total of 19.0 institutions that hold shares in the company. The top two institutional holders are ARMISTICE CAPITAL, LLC with over 1.46 million shares worth more than $3.04 million. As of 2024-06-30, ARMISTICE CAPITAL, LLC held 4.9058% of shares outstanding.

The other major institutional holder is VANGUARD GROUP INC, with the holding of over 0.44 million shares as of 2024-06-30. The firm’s total holdings are worth over $0.91 million and represent 1.4596% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Fidelity Extended Market Index Fund . As of Jun 30, 2024 , the former fund manager holds about 1.23% shares in the company for having 386.29 shares of worth $0.78 million while later fund manager owns 78.75 shares of worth $0.16 million as of Aug 31, 2024 , which makes it owner of about 0.25% of company’s outstanding stock.