John Fargis Sells 7,500 Shares of Ispire Technology (NASDAQ:ISPR) Stock

Ispire Technology Inc. (NASDAQ:ISPR) Director John Fargis sold 7,500 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $1.95, for a total transaction of $14,625.00. Following the transaction, the director owned 39,099 shares in the company, valued at approximately $76,243.05. This trade represents a 16.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ispire Technology Stock Performance

ISPR stock traded up $0.10 during trading on Monday, reaching $2.28. The company had a trading volume of 33,529 shares, compared to its average volume of 53,934. The company has a market cap of $130.62 million, a price-to-earnings ratio of -3.51 and a beta of 2.71. Ispire Technology Inc. has a twelve month low of $1.44 and a twelve month high of $6.40. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.05 and a current ratio of 1.14. The firm has a 50-day simple moving average of $2.30 and a 200-day simple moving average of $2.62.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted 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 worth $96,000 after purchasing an additional 4,997 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Ispire Technology in the first quarter worth about $49,000. Finally, Nuveen LLC acquired a new position in shares of Ispire Technology in the first quarter worth about $67,000. 5.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ISPR has been the topic of several research analyst reports. Zacks Research upgraded Ispire Technology from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ispire Technology in a report on Thursday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.50.

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.