Ispire Technology (NASDAQ:ISPR) Stock Price Down 2.4% – Time to Sell?

Ispire Technology Inc. (NASDAQ:ISPR) shares were down 2.4% during mid-day trading on Friday . The stock traded as low as $2.40 and last traded at $2.47. Approximately 52,033 shares changed hands during trading, a decline of 30% from the average daily volume of 73,808 shares. The stock had previously closed at $2.53.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reduced their price target on shares of Ispire Technology from $9.00 to $7.50 and set a “buy” rating for the company in a report on Thursday, May 15th.

Ispire Technology Trading Down 2.4%

The company has a market cap of $141.16 million, a price-to-earnings ratio of -5.04 and a beta of 2.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.98 and a quick ratio of 0.90. The firm’s fifty day moving average price is $2.76 and its 200-day moving average price is $3.86.

Ispire Technology (NASDAQ:ISPR) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). Ispire Technology had a negative net margin of 19.26% and a negative return on equity of 107.00%. The firm had revenue of $26.19 million for the quarter, compared to analyst estimates of $31.80 million. On average, equities analysts expect that Ispire Technology Inc. will post -0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Ispire Technology

Several institutional investors have recently bought and sold shares of ISPR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ispire Technology by 44.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 288,434 shares of the company’s stock worth $1,451,000 after purchasing an additional 88,842 shares during the period. JPMorgan Chase & Co. lifted its holdings in Ispire Technology by 206.3% in the fourth quarter. JPMorgan Chase & Co. now owns 70,375 shares of the company’s stock worth $354,000 after purchasing an additional 47,402 shares during the period. Nuveen LLC acquired a new stake in Ispire Technology in the first quarter worth about $67,000. Private Advisor Group LLC acquired a new stake in Ispire Technology in the first quarter worth about $49,000. Finally, Geode Capital Management LLC lifted its holdings in Ispire Technology by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 465,841 shares of the company’s stock worth $2,344,000 after purchasing an additional 13,397 shares during the period. Institutional investors and hedge funds own 5.00% of the company’s stock.

About Ispire Technology

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.