Ispire Technology (NASDAQ:ISPR) Trading Down 8.1% – Time to Sell?

Ispire Technology Inc. (NASDAQ:ISPR)’s stock price was down 8.1% during mid-day trading on Thursday . The stock traded as low as $1.55 and last traded at $1.59. 11,767 shares traded hands during trading, a decline of 70% from the average daily volume of 38,766 shares. The stock had previously closed at $1.73.

Analyst Ratings Changes

Several research firms recently weighed in on ISPR. Weiss Ratings reissued a “sell (e+)” rating on shares of Ispire Technology in a report on Friday, August 7th. BTIG Research assumed coverage on Ispire Technology in a report on Tuesday, July 21st. They issued a “buy” rating and a $3.50 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $3.50.

Ispire Technology Stock Performance

The stock’s fifty day simple moving average is $1.61 and its two-hundred day simple moving average is $1.95. The stock has a market capitalization of $91.27 million, a P/E ratio of -2.61 and a beta of 2.06.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Ispire Technology during the 2nd quarter worth about $459,000. State Street Corp increased its stake in shares of Ispire Technology by 7.7% in the fourth quarter. State Street Corp now owns 326,720 shares of the company’s stock valued at $915,000 after buying an additional 23,250 shares during the period. Orion Porfolio Solutions LLC bought a new position in shares of Ispire Technology during the fourth quarter worth about $64,000. Private Advisor Group LLC raised its position in shares of Ispire Technology by 129.6% during the third quarter. Private Advisor Group LLC now owns 34,148 shares of the company’s stock worth $87,000 after acquiring an additional 19,276 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Ispire Technology in the fourth quarter worth approximately $28,000. 5.00% of the stock is owned by institutional investors.

Ispire Technology Company Profile

Ispire Technology Inc researches, develops, designs, commercializes, sales, markets, and distributes e-cigarettes and cannabis vaping products worldwide. The company was founded in 2019 and is based in Los Angeles, California. Ispire Technology Inc operates as a subsidiary of Pride Worldwide Investment Limited.