Ispire Technology (NASDAQ:ISPR) Upgraded at Zacks Research

Zacks Research upgraded shares of Ispire Technology (NASDAQ:ISPR) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ispire Technology in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.50.

Ispire Technology Price Performance

Shares of NASDAQ:ISPR opened at $1.86 on Monday. The business’s 50-day moving average is $2.23 and its 200 day moving average is $2.41. Ispire Technology has a 1 year low of $1.44 and a 1 year high of $3.87. The firm has a market capitalization of $106.56 million, a P/E ratio of -2.95 and a beta of 2.65.

Ispire Technology (NASDAQ:ISPR) last announced its earnings results on Friday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Ispire Technology had a negative net margin of 36.62% and a negative return on equity of 2,383.89%. The business had revenue of $20.29 million for the quarter, compared to analyst estimates of $32.80 million. On average, analysts expect that Ispire Technology will post -0.44 EPS for the current year.

Institutional Trading of Ispire Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings 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 acquiring an additional 4,107 shares during the period. Goldman Sachs Group Inc. grew its holdings in Ispire Technology by 10.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 43,542 shares of the company’s stock valued at $122,000 after purchasing an additional 4,226 shares during the period. Bank of America Corp DE grew its holdings in Ispire Technology by 35.3% in the fourth 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. Wells Fargo & Company MN grew its holdings in Ispire Technology by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 20,611 shares of the company’s stock valued at $58,000 after purchasing an additional 9,037 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Ispire Technology in the fourth quarter valued at approximately $28,000. 5.00% of the stock is owned by institutional investors and hedge funds.

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.