Insider Selling: Ispire Technology (NASDAQ:ISPR) Insider Sells 17,046 Shares of Stock

Key Points

• Steven Pryzbyla, an insider at Ispire Technology, sold 17,046 shares of the company's stock at an average price of $2.64, reducing his holdings by 4.09% to approximately $1.05 million.
• Ispire Technology's recent quarterly earnings report showed a loss of ($0.26) per share, missing analyst expectations, with revenues of $20.14 million, below the consensus estimate of $22.40 million.
• Zacks Research downgraded Ispire Technology's stock from a "hold" rating to a "strong sell," while the consensus rating remains a "Moderate Buy" with an average price target of $7.50.

Ispire Technology Inc. (NASDAQ:ISPR - Get Free Report) insider Steven Pryzbyla sold 17,046 shares of the business's stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $2.64, for a total value of $45,001.44. Following the transaction, the insider owned 399,664 shares in the company, valued at approximately $1,055,112.96. This represents a 4.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Ispire Technology Trading Down 5.1%

ISPR traded down $0.13 during midday trading on Thursday, reaching $2.44. 71,140 shares of the company's stock traded hands, compared to its average volume of 55,193. Ispire Technology Inc. has a 52 week low of $2.09 and a 52 week high of $7.47. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.01 and a quick ratio of 0.91. The firm has a fifty day moving average of $2.90 and a two-hundred day moving average of $2.87. The stock has a market capitalization of $139.76 million, a price-to-earnings ratio of -3.54 and a beta of 2.74.

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

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Ispire Technology from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $7.50.

Institutional Investors Weigh In On Ispire Technology

Several hedge funds have recently bought and sold shares of ISPR. Private Advisor Group LLC bought a new position in shares of Ispire Technology during the first quarter valued at approximately $49,000. Nuveen LLC bought a new position in Ispire Technology during the 1st quarter valued at approximately $67,000. Finally, Bank of America Corp DE increased its position 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 valued at $96,000 after buying an additional 4,997 shares in the last quarter. 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.

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