Ispire Technology (NASDAQ:ISPR) Raised to Hold at Zacks Research

Ispire Technology (NASDAQ:ISPR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ispire Technology in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ispire Technology currently has a consensus rating of “Hold” and a consensus target price of $7.50.

Ispire Technology Price Performance

ISPR stock traded up $0.03 on Wednesday, hitting $1.95. 40,837 shares of the company’s stock traded hands, compared to its average volume of 53,824. Ispire Technology has a 1-year low of $1.44 and a 1-year high of $7.47. The stock has a market cap of $111.72 million, a price-to-earnings ratio of -3.00 and a beta of 2.70. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 1.33. The stock has a fifty day moving average of $2.43 and a 200-day moving average of $2.66.

Ispire Technology (NASDAQ:ISPR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $30.35 million for the quarter, compared to the consensus estimate of $43.00 million. Ispire Technology had a negative net margin of 31.14% and a negative return on equity of 389.95%. On average, analysts forecast that Ispire Technology will post -0.44 EPS for the current fiscal year.

Insider Activity

In other news, insider Steven P. Pryzbyla sold 17,046 shares of the business’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $2.64, for a total transaction of $45,001.44. Following the sale, the insider directly owned 399,664 shares of the company’s stock, valued at $1,055,112.96. The trade was a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 65.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ISPR. Private Advisor Group LLC raised its position in shares of Ispire Technology by 129.6% in the 3rd quarter. Private Advisor Group LLC now owns 34,148 shares of the company’s stock valued at $87,000 after purchasing an additional 19,276 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Ispire Technology during the 1st quarter valued at about $67,000. Finally, Bank of America Corp DE lifted its position in shares of Ispire Technology by 35.3% during the 4th quarter. Bank of America Corp DE now owns 19,156 shares of the company’s stock worth $96,000 after purchasing an additional 4,997 shares during the last quarter. Hedge funds and other institutional investors own 5.00% of the company’s stock.

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.