Ispire Technology (NASDAQ:ISPR) Stock Price Down 5.6% – Time to Sell?

Ispire Technology Inc. (NASDAQ:ISPR) shares traded down 5.6% during mid-day trading on Monday . The company traded as low as $1.84 and last traded at $1.87. 58,046 shares changed hands during trading, a decline of 43% from the average session volume of 101,927 shares. The stock had previously closed at $1.98.

Analyst Ratings Changes

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

Ispire Technology Price Performance

The company has a market capitalization of $107.34 million, a PE ratio of -3.07 and a beta of 2.02. The company’s fifty day moving average is $1.74 and its 200-day moving average is $2.26.

Ispire Technology (NASDAQ:ISPR) last posted its earnings results on Thursday, May 7th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.15). The company 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%. Equities research analysts forecast that Ispire Technology Inc. will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. State Street Corp lifted its stake 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 purchasing an additional 23,250 shares during the last quarter. Orion Porfolio Solutions LLC purchased a new position in Ispire Technology in the fourth quarter valued at about $64,000. Private Advisor Group LLC raised its holdings 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. Renaissance Technologies LLC bought a new position in Ispire Technology in the fourth quarter worth about $28,000. Finally, Wells Fargo & Company MN lifted its position in shares of Ispire Technology by 78.1% during the fourth quarter. Wells Fargo & Company MN now owns 20,611 shares of the company’s stock valued at $58,000 after buying an additional 9,037 shares during the last quarter. 5.00% of the stock is owned by institutional investors.

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.