Ispire Technology Inc. $ISPR Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. decreased its holdings in Ispire Technology Inc. (NASDAQ:ISPR) by 21.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,522 shares of the company’s stock after selling 9,961 shares during the period. Goldman Sachs Group Inc. owned approximately 0.07% of Ispire Technology worth $102,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Private Advisor Group LLC acquired a new stake in Ispire Technology in the 1st quarter valued at about $49,000. Nuveen LLC acquired a new stake in shares of Ispire Technology during the 1st quarter worth approximately $67,000. Finally, Bank of America Corp DE increased its holdings 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 buying an additional 4,997 shares during the last quarter. Institutional investors and hedge funds own 5.00% of the company’s stock.

Ispire Technology Stock Performance

Shares of ISPR stock opened at $2.57 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 1.33. Ispire Technology Inc. has a 52 week low of $2.09 and a 52 week high of $7.47. The stock has a market capitalization of $147.21 million, a PE ratio of -3.72 and a beta of 2.84. The firm has a 50 day moving average of $2.92 and a two-hundred day moving average of $2.87.

Ispire Technology (NASDAQ:ISPR) last released its quarterly earnings data on Monday, September 15th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.12). The firm had revenue of $20.14 million for the quarter, compared to analysts’ expectations 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, research analysts predict that Ispire Technology Inc. will post -0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded shares of Ispire Technology from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

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.