Ispire Technology (NASDAQ:ISPR) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Ispire Technology (NASDAQ:ISPR) from a strong sell rating to a hold rating in a research note released on Monday,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, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ispire Technology currently has a consensus rating of “Hold” and a consensus target price of $7.50.

Ispire Technology Trading Up 2.4%

Shares of ISPR stock traded up $0.05 on Monday, hitting $1.96. 9,129 shares of the stock were exchanged, compared to its average volume of 92,048. The firm has a market capitalization of $112.00 million, a PE ratio of -3.09 and a beta of 2.65. Ispire Technology has a one year low of $1.44 and a one year high of $3.87. The firm’s 50 day moving average is $2.26 and its two-hundred day moving average is $2.42.

Ispire Technology (NASDAQ:ISPR) last posted its quarterly earnings results on Friday, February 6th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $20.29 million for the quarter, compared to the consensus estimate 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 expect that Ispire Technology will post -0.44 earnings per share for the current year.

Institutional Trading of Ispire Technology

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Ispire Technology by 7.7% during 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 in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Ispire Technology by 10.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 43,542 shares of the company’s stock worth $122,000 after purchasing an additional 4,226 shares in the last quarter. Bank of America Corp DE lifted 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 purchasing an additional 4,997 shares in the last quarter. Private Advisor Group LLC lifted its holdings in 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 in the last quarter. Finally, Orion Porfolio Solutions LLC purchased a new stake in Ispire Technology during the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 5.00% of the company’s stock.

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.