Insider Selling: Ispire Technology (NASDAQ:ISPR) Insider Sells 3,000 Shares of Stock

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 stock was sold at an average price of $3.41, for a total transaction of $10,230.00. Following the transaction, the insider owned 396,664 shares of the company’s stock, valued at approximately $1,352,624.24. This represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Ispire Technology Price Performance

Shares of Ispire Technology stock traded down $0.22 during mid-day trading on Tuesday, reaching $3.01. 162,965 shares of the stock were exchanged, compared to its average volume of 57,744. Ispire Technology Inc. has a fifty-two week low of $1.44 and a fifty-two week high of $4.98. The company has a market cap of $172.44 million, a price-to-earnings ratio of -4.78 and a beta of 2.41. The firm has a 50-day simple moving average of $2.95 and a 200 day simple moving average of $2.67. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 1.33.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on ISPR shares. Zacks Research lowered shares of Ispire Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ispire Technology in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Ispire Technology presently has an average rating of “Reduce” and an average target price of $7.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in Ispire Technology during the fourth quarter worth about $28,000. JPMorgan Chase & Co. increased its stake in 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 in the last quarter. Bank of America Corp DE raised its holdings in Ispire Technology by 35.3% during the 4th quarter. Bank of America Corp DE now owns 19,156 shares of the company’s stock worth $96,000 after buying an additional 4,997 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Ispire Technology by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 20,611 shares of the company’s stock valued at $58,000 after buying an additional 9,037 shares during the period. Finally, Orion Porfolio Solutions LLC bought a new stake in shares of Ispire Technology during the fourth quarter worth $64,000. Institutional investors 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.