Ispire Technology (NASDAQ:ISPR) Posts Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Key Points

• Ispire Technology reported a quarterly loss of ($0.26) earnings per share, which missed the consensus estimate of ($0.14) by ($0.12).
• The company's stock price increased by 4.9% in midday trading, reaching $3.43, with a market cap of $196.02 million.
• Bank of America raised its stake in Ispire Technology by 35.3% during the fourth quarter, now owning approximately 5.00% of the company's stock.

Ispire Technology (NASDAQ:ISPR - Get Free Report) released its quarterly earnings results on Monday. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.12), Zacks reports. Ispire Technology had a negative net margin of 30.78% and a negative return on equity of 223.15%. The business had revenue of $20.14 million for the quarter, compared to analyst estimates of $22.40 million.

Ispire Technology Price Performance

ISPR stock traded down $0.38 during midday trading on Friday, reaching $2.78. 126,317 shares of the company's stock traded hands, compared to its average volume of 54,072. The company has a 50-day simple moving average of $2.95 and a two-hundred day simple moving average of $2.95. Ispire Technology has a 1-year low of $2.09 and a 1-year high of $7.71. The company has a market cap of $159.24 million, a price-to-earnings ratio of -4.03 and a beta of 2.85. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.33.

Institutional Investors Weigh In On Ispire Technology

A hedge fund recently raised its stake in Ispire Technology stock. Bank of America Corp DE raised its position in Ispire Technology Inc. (NASDAQ:ISPR - Free Report) by 35.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 filing with the SEC. 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.