Ispire Technology (NASDAQ:ISPR) Upgraded at BTIG Research

BTIG Research upgraded shares of Ispire Technology (NASDAQ:ISPR) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

ISPR has been the topic of several other research reports. Zacks Research raised Ispire Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings downgraded Ispire Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.50.

Ispire Technology Trading Down 5.4%

ISPR opened at $1.57 on Tuesday. The firm has a market cap of $90.12 million, a P/E ratio of -2.57 and a beta of 2.18. Ispire Technology has a 12 month low of $1.01 and a 12 month high of $3.87. The stock has a 50-day moving average of $1.67 and a 200 day moving average of $2.08.

Ispire Technology (NASDAQ:ISPR) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.15). The company had revenue of $18.69 million for the quarter, compared to the consensus estimate of $22.60 million. Ispire Technology had a negative return on equity of 2,383.89% and a negative net margin of 38.20%. On average, research analysts forecast that Ispire Technology will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ispire Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new position in Ispire Technology in the 4th quarter worth about $28,000. JPMorgan Chase & Co. raised its stake in shares of Ispire Technology by 28.5% during the third quarter. JPMorgan Chase & Co. now owns 18,529 shares of the company’s stock valued at $47,000 after acquiring an additional 4,107 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of 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. Orion Porfolio Solutions LLC purchased a new stake in shares of Ispire Technology in the fourth quarter valued at approximately $64,000. Finally, Private Advisor Group LLC grew its stake in Ispire Technology by 129.6% in the third quarter. Private Advisor Group LLC now owns 34,148 shares of the company’s stock worth $87,000 after purchasing an additional 19,276 shares in the last quarter. 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.