Ispire Technology (NASDAQ:ISPR) Trading Down 2.2% – What’s Next?

Ispire Technology Inc. (NASDAQ:ISPR)’s share price fell 2.2% during trading on Tuesday . The company traded as low as $1.5992 and last traded at $1.75. 127,611 shares changed hands during trading, a decline of 43% from the average daily volume of 225,204 shares. The stock had previously closed at $1.79.

Analysts Set New Price Targets

A number of analysts have issued reports on ISPR shares. Zacks Research upgraded shares of Ispire Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Weiss Ratings lowered shares of Ispire Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

Ispire Technology Stock Performance

The stock’s 50-day simple moving average is $1.67 and its 200 day simple moving average is $2.13. The company has a market capitalization of $100.45 million, a PE ratio of -2.87 and a beta of 2.18.

Ispire Technology (NASDAQ:ISPR) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.15). The firm had revenue of $18.69 million for the quarter, compared to analysts’ expectations 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, analysts expect that Ispire Technology Inc. will post -0.36 earnings per share for the current year.

Institutional Trading of Ispire Technology

A number of institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position in shares of Ispire Technology by 7.7% during the 4th quarter. State Street Corp now owns 326,720 shares of the company’s stock worth $915,000 after acquiring an additional 23,250 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Ispire Technology by 10.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 43,542 shares of the company’s stock worth $122,000 after acquiring an additional 4,226 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Ispire Technology by 78.1% during the 4th quarter. Wells Fargo & Company MN now owns 20,611 shares of the company’s stock worth $58,000 after acquiring an additional 9,037 shares in the last quarter. Orion Porfolio Solutions LLC purchased a new stake in Ispire Technology during the fourth quarter worth approximately $64,000. Finally, Private Advisor Group LLC lifted 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 purchasing an additional 19,276 shares during the last quarter. 5.00% of the stock is owned by hedge funds and other institutional investors.

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.