Ispire Technology (NASDAQ:ISPR) Stock Price Down 1.1% – What’s Next?

Ispire Technology Inc. (NASDAQ:ISPR)’s stock price fell 1.1% during trading on Monday . The company traded as low as $1.71 and last traded at $1.79. 114,914 shares changed hands during trading, a decline of 16% from the average session volume of 136,344 shares. The stock had previously closed at $1.81.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ISPR. Zacks Research upgraded Ispire Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings cut Ispire Technology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ispire Technology presently has a consensus rating of “Reduce”.

Ispire Technology Trading Down 1.1%

The company has a market capitalization of $102.75 million, a price-to-earnings ratio of -2.93 and a beta of 2.02. The company has a fifty day moving average of $1.74 and a 200-day moving average of $2.31.

Ispire Technology (NASDAQ:ISPR) last posted 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 during the quarter, compared to analyst estimates of $22.60 million. Ispire Technology had a negative return on equity of 2,383.89% and a negative net margin of 38.20%. As a group, equities research analysts expect that Ispire Technology Inc. will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Ispire Technology by 28.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,529 shares of the company’s stock worth $47,000 after purchasing an additional 4,107 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Ispire Technology during the 4th quarter worth approximately $28,000. Wells Fargo & Company MN boosted its holdings 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 purchasing an additional 9,037 shares during the last quarter. Orion Porfolio Solutions LLC acquired a new position in shares of Ispire Technology during the 4th quarter worth approximately $64,000. Finally, Private Advisor Group LLC boosted its holdings in shares of Ispire Technology by 129.6% during the 3rd 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 currently owned by institutional investors and hedge funds.

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.