Ispire Technology (NASDAQ:ISPR) Trading Down 5.5% - Should You Sell?

Key Points

• ISPR fell 5.5% intraday to $1.73 with just ~30,855 shares traded (about an 84% drop vs. average), and is trading below its 50- and 200-day simple moving averages (~$2.42).
• Quarterly results missed: the company reported $(0.12) EPS vs. $(0.01) expected and revenue of $20.29M vs. $32.8M expected, leaving a negative net margin (−36.62%) and a severely negative ROE.
• Analyst and investor sentiment is weak: consensus rating is "Reduce" with a $7.50 target, recent downgrades from Zacks and Weiss, and only about 5% institutional ownership despite some small fund purchases.

Ispire Technology Inc. (NASDAQ:ISPR - Get Free Report) fell 5.5% during mid-day trading on Tuesday . The stock traded as low as $1.69 and last traded at $1.73. 30,855 shares were traded during trading, a decline of 84% from the average session volume of 188,171 shares. The stock had previously closed at $1.83.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ISPR. Zacks Research lowered shares of Ispire Technology from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Ispire Technology in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ispire Technology currently has an average rating of "Reduce" and a consensus target price of $7.50.

Ispire Technology Price Performance

The stock's 50 day simple moving average is $2.42 and its two-hundred day simple moving average is $2.44. The firm has a market cap of $99.11 million, a P/E ratio of -2.75 and a beta of 2.65.

Ispire Technology (NASDAQ:ISPR - Get Free Report) last posted its quarterly earnings results on Friday, February 6th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). Ispire Technology had a negative net margin of 36.62% and a negative return on equity of 2,383.89%. The firm had revenue of $20.29 million for the quarter, compared to analysts' expectations of $32.80 million. Equities research analysts anticipate that Ispire Technology Inc. will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On Ispire Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new stake in Ispire Technology in the fourth quarter worth approximately $28,000. JPMorgan Chase & Co. boosted its holdings in Ispire Technology by 28.5% in the third quarter. JPMorgan Chase & Co. now owns 18,529 shares of the company's stock worth $47,000 after purchasing an additional 4,107 shares during the last quarter. Bank of America Corp DE boosted its holdings in Ispire Technology by 35.3% in the fourth quarter. Bank of America Corp DE now owns 19,156 shares of the company's stock worth $96,000 after purchasing an additional 4,997 shares during the last quarter. Wells Fargo & Company MN boosted its stake 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 acquiring an additional 9,037 shares during the last quarter. Finally, Orion Porfolio Solutions LLC purchased a new position in shares of Ispire Technology during the 4th quarter worth $64,000. Hedge funds and other 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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