Ispire Technology (NASDAQ:ISPR) Stock Rating Upgraded by Zacks Research

Ispire Technology (NASDAQ:ISPR) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Ispire Technology in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.50.

Ispire Technology Price Performance

Shares of NASDAQ:ISPR opened at $1.92 on Wednesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.05 and a current ratio of 1.14. Ispire Technology has a 52 week low of $1.44 and a 52 week high of $7.47. The firm has a market cap of $110.00 million, a PE ratio of -2.95 and a beta of 2.70. The firm’s fifty day moving average is $2.43 and its 200-day moving average is $2.66.

Ispire Technology (NASDAQ:ISPR) last announced its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $30.35 million during the quarter, compared to analyst estimates of $43.00 million. Ispire Technology had a negative return on equity of 389.95% and a negative net margin of 31.14%. Sell-side analysts predict that Ispire Technology will post -0.44 earnings per share for the current year.

Insider Transactions at Ispire Technology

In other Ispire Technology news, insider Steven P. Pryzbyla sold 17,046 shares of the firm’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $2.64, for a total value of $45,001.44. Following the completion of the sale, the insider directly owned 399,664 shares in the company, valued at approximately $1,055,112.96. This trade represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 65.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. 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 valued at $87,000 after acquiring an additional 19,276 shares during the period. Nuveen LLC bought a new position in shares of Ispire Technology in the 1st quarter worth $67,000. Finally, Bank of America Corp DE grew its position in Ispire Technology by 35.3% in the 4th 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. 5.00% of the stock is owned by institutional investors and hedge funds.

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.