Ispire Technology Inc. (NASDAQ:ISPR - Get Free Report) shares were down 2.7% on Tuesday . The stock traded as low as $2.93 and last traded at $2.93. Approximately 35,904 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 59,993 shares. The stock had previously closed at $3.01.
Wall Street Analysts Forecast Growth
Separately, Roth Mkm lowered their price objective on shares of Ispire Technology from $9.00 to $7.50 and set a "buy" rating for the company in a research report on Thursday, May 15th.
View Our Latest Stock Report on ISPR
Ispire Technology Stock Performance
The firm's 50-day moving average price is $2.70 and its 200 day moving average price is $3.32. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.90 and a current ratio of 0.98. The company has a market cap of $148.59 million, a price-to-earnings ratio of -5.31 and a beta of 2.83.
Ispire Technology (NASDAQ:ISPR - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.07). Ispire Technology had a negative return on equity of 107.00% and a negative net margin of 19.26%. The business had revenue of $26.19 million for the quarter, compared to analyst estimates of $31.80 million. On average, sell-side analysts anticipate that Ispire Technology Inc. will post -0.44 EPS for the current year.
Institutional Investors Weigh In On Ispire Technology
Institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its holdings in Ispire Technology by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 8,976 shares of the company's stock valued at $45,000 after purchasing an additional 3,060 shares during the period. Private Advisor Group LLC acquired a new position in Ispire Technology during the first quarter valued at approximately $49,000. Nuveen LLC acquired a new position in Ispire Technology during the first quarter valued at approximately $67,000. Bank of America Corp DE grew its holdings in Ispire Technology by 35.3% during the fourth quarter. Bank of America Corp DE now owns 19,156 shares of the company's stock valued at $96,000 after purchasing an additional 4,997 shares during the period. Finally, Barclays PLC grew its holdings in Ispire Technology by 10.9% during the fourth quarter. Barclays PLC now owns 30,451 shares of the company's stock valued at $153,000 after purchasing an additional 2,990 shares during the period. Institutional investors and hedge funds own 5.00% of the company's stock.
About Ispire Technology
(
Get Free Report)
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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