Ispire Technology (NASDAQ:ISPR) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Ispire Technology (NASDAQ:ISPR – Free Report) from a hold rating to a strong sell rating in a research note released on Monday morning,Zacks reports.

Other analysts also recently issued reports about the company. BTIG Research started coverage on Ispire Technology in a research report on Tuesday, July 21st. They issued a “buy” rating and a $3.50 price objective on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Ispire Technology in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.50.

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Ispire Technology Price Performance

Shares of ISPR opened at $1.25 on Monday. Ispire Technology has a 1-year low of $1.01 and a 1-year high of $3.87. The stock has a market cap of $71.90 million, a price-to-earnings ratio of -2.11 and a beta of 2.06. The firm has a 50 day simple moving average of $1.53 and a 200-day simple moving average of $1.66.

Ispire Technology (NASDAQ:ISPR – Get Free Report) last posted its earnings results on Wednesday, September 16th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.25). The company had revenue of $26.69 million during the quarter, compared to analysts’ expectations of $21.34 million. Ispire Technology had a negative net margin of 34.59% and a negative return on equity of 2,383.89%. On average, equities analysts expect that Ispire Technology will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Ispire Technology stock. BlackRock Inc. bought a new position in Ispire Technology Inc. (NASDAQ:ISPR – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 409,610 shares of the company’s stock, valued at approximately $459,000. BlackRock Inc. owned about 0.71% of Ispire Technology as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 5.00% of the company’s stock.

Ispire Technology Company Profile

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Ispire Technology Inc is a technology company focused on the design, development, manufacturing and sale of vaping products and vaporization hardware. Its product portfolio serves both the nicotine-vaping and cannabis-vaporization markets and includes electronic cigarettes, disposable vaping devices, pod systems and other vaporizer products.

The company operates primarily through business-to-business relationships, supplying products to distributors, retailers, brand owners and other commercial partners.

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