Ispire Technology (NASDAQ:ISPR) Shares Down 8.1% – Time to Sell?

Ispire Technology Inc. (NASDAQ:ISPR) was down 8.1% during mid-day trading on Thursday . The stock traded as low as $1.55 and last traded at $1.59. 11,767 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 38,766 shares. The stock had previously closed at $1.73.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ISPR. Weiss Ratings restated a “sell (e+)” rating on shares of Ispire Technology in a research report on Friday, August 7th. BTIG Research started coverage on Ispire Technology in a report on Tuesday, July 21st. They issued a “buy” rating and a $3.50 price target on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.50.

Ispire Technology Trading Down 2.5%

The company has a market cap of $88.97 million, a PE ratio of -2.54 and a beta of 2.06. The company’s 50 day moving average is $1.60 and its 200 day moving average is $1.95.

Institutional Trading of Ispire Technology

A number of large investors have recently modified their holdings of the company. Bank of America Corp DE increased 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 during the period. Private Advisor Group LLC lifted its holdings in shares of Ispire Technology by 129.6% in the 3rd quarter. Private Advisor Group LLC now owns 34,148 shares of the company’s stock worth $87,000 after buying an additional 19,276 shares during the period. JPMorgan Chase & Co. grew its position in shares of 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 buying an additional 4,107 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of 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 buying an additional 4,226 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Ispire Technology during the 4th quarter worth $28,000. 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.