Ispire Technology (NASDAQ:ISPR) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Ispire Technology from "strong sell" to "hold" while Weiss Ratings reaffirmed a "sell (d-)", leaving the consensus analyst rating at Hold with a $7.50 average price target.
• The company missed its most recent quarter, reporting ($0.12) EPS vs. a ($0.01) estimate and $20.29M in revenue vs. $32.80M expected, and showed a negative net margin of 36.62% and a severely negative ROE.
• Shares trade near $1.91 with a market cap of about $109M and a 52-week range of $1.44–$3.87; several institutional investors modestly increased positions, but overall institutional ownership remains low at about 5%.

Ispire Technology (NASDAQ:ISPR - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ispire Technology in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $7.50.

Ispire Technology Stock Performance

NASDAQ ISPR opened at $1.91 on Monday. The business's 50 day moving average price is $2.26 and its 200-day moving average price is $2.42. The company has a market cap of $109.42 million, a P/E ratio of -3.03 and a beta of 2.65. Ispire Technology has a fifty-two week low of $1.44 and a fifty-two week high of $3.87.

Ispire Technology (NASDAQ:ISPR - Get Free Report) last announced its quarterly earnings data on Friday, February 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The business had revenue of $20.29 million during the quarter, compared to the consensus estimate of $32.80 million. Ispire Technology had a negative net margin of 36.62% and a negative return on equity of 2,383.89%. As a group, equities analysts predict that Ispire Technology will post -0.44 EPS for the current year.

Hedge Funds Weigh In On Ispire Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in ISPR. State Street Corp grew its position in shares of Ispire Technology by 7.7% during the 4th quarter. State Street Corp now owns 326,720 shares of the company's stock worth $915,000 after buying an additional 23,250 shares in the last quarter. Orion Porfolio Solutions LLC bought a new position in shares of Ispire Technology during the 4th quarter worth $64,000. Private Advisor Group LLC grew its position in shares of Ispire Technology by 129.6% during 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 in the last quarter. Renaissance Technologies LLC bought a new position in shares of Ispire Technology during the 4th quarter worth $28,000. Finally, Wells Fargo & Company MN grew its position in shares of 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. Institutional investors own 5.00% of the company's stock.

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.

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