Ispire Technology (NASDAQ:ISPR) Trading Up 1.2% – What’s Next?

Ispire Technology Inc. (NASDAQ:ISPR)’s share price was up 1.2% during mid-day trading on Monday . The stock traded as high as $2.56 and last traded at $2.52. Approximately 9,593 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 29,511 shares. The stock had previously closed at $2.49.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ISPR shares. Weiss Ratings restated a “sell (d-)” rating on shares of Ispire Technology in a research note on Monday, December 29th. Zacks Research raised Ispire Technology from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.50.

Ispire Technology Stock Performance

The company has a debt-to-equity ratio of 1.33, a current ratio of 1.14 and a quick ratio of 1.05. The stock has a 50-day moving average price of $2.39 and a 200-day moving average price of $2.62. The company has a market capitalization of $144.37 million, a price-to-earnings ratio of -3.88 and a beta of 2.45.

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

Institutional Trading of Ispire Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in Ispire Technology by 28.5% during the third quarter. JPMorgan Chase & Co. now owns 18,529 shares of the company’s stock worth $47,000 after buying an additional 4,107 shares in the last quarter. Private Advisor Group LLC raised its stake in Ispire Technology by 129.6% during the third quarter. Private Advisor Group LLC now owns 34,148 shares of the company’s stock worth $87,000 after acquiring an additional 19,276 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Ispire Technology by 35.3% during the fourth 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 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.