Ispire Technology (NASDAQ:ISPR) Shares Down 3.3%

Shares of Ispire Technology Inc. (NASDAQ:ISPR) fell 3.3% during trading on Monday . The stock traded as low as $7.70 and last traded at $7.74. Approximately 95,992 shares changed hands during mid-day trading, an increase of 0% from the average daily volume of 95,812 shares. The stock had previously closed at $8.00.

Analyst Ratings Changes

A number of research firms have commented on ISPR. Roth Capital raised Ispire Technology to a “strong-buy” rating in a research note on Monday, May 20th. Roth Mkm reissued a “buy” rating and issued a $11.00 price objective on shares of Ispire Technology in a research note on Friday, June 7th.

Ispire Technology Price Performance

The company has a market cap of $446.13 million, a price-to-earnings ratio of -32.17 and a beta of 2.84. The business has a 50 day simple moving average of $6.81 and a 200 day simple moving average of $8.56.

Ispire Technology (NASDAQ:ISPR) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.11) EPS for the quarter. The business had revenue of $30.02 million during the quarter. Ispire Technology had a negative return on equity of 34.23% and a negative net margin of 8.79%. As a group, sell-side analysts anticipate that Ispire Technology Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ispire Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank raised its position in shares of Ispire Technology by 499.0% during the fourth quarter. Amalgamated Bank now owns 2,474 shares of the company’s stock worth $30,000 after acquiring an additional 2,061 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ispire Technology by 62.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,273 shares of the company’s stock worth $382,000 after acquiring an additional 24,017 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Ispire Technology during the first quarter worth $196,000. Finally, AdvisorShares Investments LLC bought a new stake in shares of Ispire Technology during the fourth quarter worth $969,000. 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.