Ispire Technology (NASDAQ:ISPR) Announces Quarterly Earnings Results

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 the consensus estimate of ($0.14) by ($0.12), Zacks reports. Ispire Technology had a negative return on equity of 107.00% and a negative net margin of 19.26%.

Ispire Technology Trading Up 4.9%

Shares of NASDAQ:ISPR traded up $0.16 during midday trading on Monday, reaching $3.43. The company's stock had a trading volume of 61,477 shares, compared to its average volume of 54,958. The firm has a market cap of $196.02 million, a price-to-earnings ratio of -7.00 and a beta of 2.84. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.08. Ispire Technology has a 1 year low of $2.09 and a 1 year high of $7.79. The business has a 50 day moving average price of $2.92 and a 200 day moving average price of $2.97.

Institutional Investors Weigh In On Ispire Technology

A hedge fund recently raised its stake in Ispire Technology stock. Bank of America Corp DE increased its holdings in Ispire Technology Inc. (NASDAQ:ISPR - Free Report) by 35.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,156 shares of the company's stock after purchasing 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.

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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