Ispire Technology (NASDAQ:ISPR) Issues Earnings Results

Ispire Technology (NASDAQ:ISPR) posted its earnings results on Thursday. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04, Zacks reports. Ispire Technology had a negative net margin of 31.14% and a negative return on equity of 279.41%. The firm had revenue of $30.35 million during the quarter, compared to the consensus estimate of $43.00 million.

Ispire Technology Price Performance

Ispire Technology stock traded down $0.14 during midday trading on Friday, reaching $1.50. 88,569 shares of the stock were exchanged, compared to its average volume of 44,436. Ispire Technology has a 52 week low of $1.49 and a 52 week high of $7.47. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.91 and a current ratio of 1.01. The firm has a market cap of $85.63 million, a PE ratio of -2.30 and a beta of 2.70. The company’s fifty day moving average is $2.55 and its 200-day moving average is $2.69.

Wall Street Analysts Forecast Growth

ISPR has been the subject of several analyst reports. Zacks Research downgraded shares of Ispire Technology from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Ispire Technology in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $7.50.

Insider Buying and Selling

In other news, insider Steven P. Pryzbyla sold 17,046 shares of the business’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $2.64, for a total transaction of $45,001.44. Following the completion of the transaction, the insider directly owned 399,664 shares in the company, valued at $1,055,112.96. The trade was a 4.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 65.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ispire Technology

A hedge fund recently raised its stake in Ispire Technology stock. Bank of America Corp DE boosted its holdings in shares of Ispire Technology Inc. (NASDAQ:ISPR) by 35.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,156 shares of the company’s stock after buying an additional 4,997 shares during the period. Bank of America Corp DE’s holdings in Ispire Technology were worth $96,000 as of its most recent SEC filing. 5.00% of the stock is currently owned by hedge funds and other institutional investors.

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.