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

Ispire Technology (NASDAQ:ISPR) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

A number of other research analysts also recently commented on ISPR. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ispire Technology in a report on Friday, August 7th. BTIG Research initiated coverage on Ispire Technology in a research note on Tuesday, July 21st. They set a “buy” rating and a $3.50 target price for the company. One analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Ispire Technology currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Ispire Technology Trading Down 0.4%

Shares of ISPR stock opened at $1.25 on Monday. The firm has a fifty day moving average price of $1.53 and a 200 day moving average price of $1.66. The company has a market cap of $71.90 million, a P/E ratio of -2.11 and a beta of 2.06. Ispire Technology has a 12 month low of $1.01 and a 12 month high of $3.87.

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

Institutional Investors Weigh In On Ispire Technology

A hedge fund recently bought a new position in Ispire Technology stock. BlackRock Inc. bought a new position in shares of Ispire Technology Inc. (NASDAQ:ISPR) during the second quarter, according to its most recent 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 at the end of the most recent quarter. Institutional investors own 5.00% of the company’s stock.

Ispire Technology Company Profile

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.