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

Zacks Research downgraded shares of Ispire Technology (NASDAQ:ISPR) from a hold rating to a strong sell rating in a research report released on Thursday morning,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ispire Technology in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $7.50.

Ispire Technology Price Performance

NASDAQ:ISPR opened at $3.23 on Thursday. The stock has a market capitalization of $185.05 million, a PE ratio of -5.13 and a beta of 2.42. Ispire Technology has a 1-year low of $1.44 and a 1-year high of $4.98. The firm has a fifty day simple moving average of $2.93 and a 200 day simple moving average of $2.67. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.33.

Ispire Technology (NASDAQ:ISPR) last announced its quarterly earnings results on Friday, February 6th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Ispire Technology had a negative net margin of 36.62% and a negative return on equity of 2,383.89%. The firm had revenue of $20.29 million during the quarter, compared to analyst estimates of $32.80 million. On average, research analysts expect that Ispire Technology will post -0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new position in Ispire Technology in the 4th quarter valued at about $28,000. JPMorgan Chase & Co. increased its stake in shares of Ispire Technology by 28.5% during the third 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 period. Wells Fargo & Company MN lifted its holdings in 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 stake in Ispire Technology during the 4th quarter worth approximately $64,000. Finally, Private Advisor Group LLC boosted its stake in Ispire Technology by 129.6% in the 3rd quarter. Private Advisor Group LLC now owns 34,148 shares of the company’s stock valued at $87,000 after purchasing an additional 19,276 shares during the period. Institutional investors and hedge funds own 5.00% of the company’s stock.

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.