Ispire Technology (NASDAQ:ISPR) Insider Sells $45,001.44 in Stock

Ispire Technology Inc. (NASDAQ:ISPR) insider Steven Pryzbyla sold 17,046 shares of Ispire Technology stock in a transaction on Friday, September 26th. The stock was sold at an average price of $2.64, for a total value of $45,001.44. Following the sale, the insider directly owned 399,664 shares of the company’s stock, valued at approximately $1,055,112.96. This trade represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Ispire Technology Trading Up 2.0%

NASDAQ:ISPR opened at $2.49 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 1.33. Ispire Technology Inc. has a 1-year low of $2.09 and a 1-year high of $7.47. The firm has a market capitalization of $142.63 million, a price-to-earnings ratio of -3.61 and a beta of 2.74. The business’s 50-day moving average price is $2.88 and its two-hundred day moving average price is $2.86.

Ispire Technology (NASDAQ:ISPR) last announced its quarterly earnings results on Monday, September 15th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.12). Ispire Technology had a negative net margin of 30.78% and a negative return on equity of 223.15%. The company had revenue of $20.14 million during the quarter, compared to the consensus estimate of $22.40 million. On average, equities analysts expect that Ispire Technology Inc. will post -0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Zacks Research lowered shares of Ispire Technology from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Ispire Technology in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ISPR. Nuveen LLC bought a new stake in Ispire Technology in the 1st quarter valued at $67,000. Private Advisor Group LLC acquired a new position in shares of Ispire Technology in the first quarter valued at $49,000. Finally, Bank of America Corp DE raised its position in shares of Ispire Technology by 35.3% in the fourth quarter. Bank of America Corp DE now owns 19,156 shares of the company’s stock valued at $96,000 after purchasing an additional 4,997 shares during the period. 5.00% of the stock is owned by institutional investors and hedge funds.

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.