Ispire Technology (NASDAQ:ISPR) Insider Steven Pryzbyla Sells 3,000 Shares

Ispire Technology Inc. (NASDAQ:ISPR) insider Steven Pryzbyla sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $3.41, for a total value of $10,230.00. Following the transaction, the insider directly owned 396,664 shares in the company, valued at $1,352,624.24. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ispire Technology Trading Down 6.8%

Shares of ISPR stock opened at $3.01 on Wednesday. The business has a 50-day moving average of $2.96 and a 200 day moving average of $2.68. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.06 and a quick ratio of 0.97. Ispire Technology Inc. has a 1-year low of $1.44 and a 1-year high of $4.98. The stock has a market capitalization of $172.44 million, a PE ratio of -4.78 and a beta of 2.42.

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). The company had revenue of $20.29 million during the quarter, compared to analysts’ expectations of $32.80 million. Ispire Technology had a negative return on equity of 2,383.89% and a negative net margin of 36.62%. As a group, sell-side analysts anticipate that Ispire Technology Inc. will post -0.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of Ispire Technology by 7.7% in the 4th quarter. State Street Corp now owns 326,720 shares of the company’s stock worth $915,000 after purchasing an additional 23,250 shares during the period. Goldman Sachs Group Inc. raised its stake in Ispire Technology by 10.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 43,542 shares of the company’s stock worth $122,000 after buying an additional 4,226 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Ispire Technology by 129.6% in the third quarter. Private Advisor Group LLC now owns 34,148 shares of the company’s stock worth $87,000 after buying an additional 19,276 shares during the period. Orion Porfolio Solutions LLC bought a new stake in Ispire Technology during the 4th quarter valued at approximately $64,000. Finally, Wells Fargo & Company MN boosted its position in Ispire Technology by 78.1% during the 4th quarter. Wells Fargo & Company MN now owns 20,611 shares of the company’s stock valued at $58,000 after acquiring an additional 9,037 shares in the last quarter. 5.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ISPR shares. Zacks Research lowered shares of Ispire Technology from a “hold” rating to a “strong sell” rating in a report on Thursday, February 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ispire Technology in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” 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.