Ispire Technology (NASDAQ:ISPR) Downgraded to Strong Sell Rating by Zacks Research

Ispire Technology (NASDAQ:ISPR) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks reports.

A number of other analysts have also issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ispire Technology in a research note on Friday, August 7th. BTIG Research started coverage on shares of Ispire Technology in a research report on Tuesday, July 21st. They set a “buy” rating and a $3.50 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.50.

Ispire Technology Stock Down 0.4%

ISPR opened at $1.25 on Monday. Ispire Technology has a 52 week low of $1.01 and a 52 week high of $3.87. The business has a fifty day simple moving average of $1.53 and a 200-day simple moving average of $1.66. The firm has a market cap of $71.90 million, a P/E ratio of -2.11 and a beta of 2.06.

Ispire Technology (NASDAQ:ISPR) last posted its quarterly earnings data on Wednesday, September 16th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.25). Ispire Technology had a negative net margin of 34.59% and a negative return on equity of 2,383.89%. The firm had revenue of $26.69 million during the quarter, compared to analysts’ expectations of $21.34 million. Sell-side analysts expect that Ispire Technology will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Ispire Technology

An institutional investor recently bought a new stake in Ispire Technology stock. BlackRock Inc. bought a new position in shares of Ispire Technology Inc. (NASDAQ:ISPR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 409,610 shares of the company’s stock, valued at approximately $459,000. BlackRock Inc. owned 0.71% of Ispire Technology as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 5.00% of the company’s stock.

About Ispire Technology

Ispire Technology Inc is a technology company focused on the design, development, manufacturing and sale of vaping products and vaporization hardware. Its product portfolio serves both the nicotine-vaping and cannabis-vaporization markets and includes electronic cigarettes, disposable vaping devices, pod systems and other vaporizer products.

The company operates primarily through business-to-business relationships, supplying products to distributors, retailers, brand owners and other commercial partners.