Ispire Technology (NASDAQ:ISPR) Stock Price Down 2.2% – Should You Sell?

Ispire Technology Inc. (NASDAQ:ISPR)’s stock price fell 2.2% during mid-day trading on Tuesday . The company traded as low as $1.5992 and last traded at $1.75. 127,611 shares traded hands during trading, a decline of 43% from the average daily volume of 225,204 shares. The stock had previously closed at $1.79.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Zacks Research raised shares of Ispire Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings cut shares of Ispire Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

Ispire Technology Price Performance

The stock has a 50 day moving average price of $1.68 and a two-hundred day moving average price of $2.12. The firm has a market capitalization of $107.91 million, a price-to-earnings ratio of -3.08 and a beta of 2.18.

Ispire Technology (NASDAQ:ISPR) last posted its earnings results on Thursday, May 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.15). Ispire Technology had a negative return on equity of 2,383.89% and a negative net margin of 38.20%.The firm had revenue of $18.69 million for the quarter, compared to analyst estimates of $22.60 million. As a group, research analysts expect that Ispire Technology Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Trading of Ispire Technology

Several hedge funds have recently made changes to their positions in ISPR. Renaissance Technologies LLC acquired a new position in shares of Ispire Technology in the fourth quarter valued at approximately $28,000. JPMorgan Chase & Co. increased its stake in 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 during the period. 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 buying an additional 4,997 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Ispire Technology by 78.1% during the 4th quarter. Wells Fargo & Company MN now owns 20,611 shares of the company’s stock worth $58,000 after buying an additional 9,037 shares in the last quarter. Finally, Orion Porfolio Solutions LLC purchased a new position in Ispire Technology in the 4th quarter valued at approximately $64,000. Institutional investors and hedge funds 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.