Ispire Technology (NASDAQ:ISPR) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Ispire Technology (NASDAQ:ISPR) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday,Zacks.com reports.

Ispire Technology Stock Performance

Shares of ISPR stock opened at $2.59 on Tuesday. The company has a market capitalization of $148.36 million, a price-to-earnings ratio of -3.75 and a beta of 2.85. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.91 and a current ratio of 1.01. The company has a 50-day simple moving average of $2.93 and a 200 day simple moving average of $2.90. Ispire Technology has a 52 week low of $2.09 and a 52 week high of $7.47.

Ispire Technology (NASDAQ:ISPR) last announced its earnings results on Monday, September 15th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.12). The company had revenue of $20.14 million for the quarter, compared to the consensus estimate of $22.40 million. Ispire Technology had a negative return on equity of 223.15% and a negative net margin of 30.78%. On average, sell-side analysts predict that Ispire Technology will post -0.44 earnings per share for the current year.

Institutional Trading of Ispire Technology

Institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC bought a new stake in Ispire Technology in the 1st quarter valued at about $49,000. Nuveen LLC bought a new stake in Ispire Technology in the 1st quarter valued at about $67,000. Bank of America Corp DE boosted its holdings in Ispire Technology by 35.3% in the 4th quarter. Bank of America Corp DE now owns 19,156 shares of the company’s stock valued at $96,000 after purchasing an additional 4,997 shares during the period. Finally, Northern Trust Corp boosted its holdings in Ispire Technology by 5.3% in the 4th quarter. Northern Trust Corp now owns 171,801 shares of the company’s stock valued at $864,000 after purchasing an additional 8,704 shares during the period. Institutional investors 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.