Ispire Technology's (ISPR) Sell (E+) Rating Reaffirmed at Weiss Ratings

Key Points

• Ispire Technology (ISPR) has had its "sell (e+)" rating reaffirmed by Weiss Ratings, highlighting ongoing concerns about the stock's performance.
• Zacks Research has downgraded Ispire Technology from a "hold" to a "strong sell" rating, indicating pessimism among analysts regarding its future performance.
• The company recently reported a loss of ($0.26) per share for the last quarter, which missed analysts' expectations, alongside a negative return on equity of 223.15%.

Ispire Technology (NASDAQ:ISPR - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Zacks Research cut Ispire Technology from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $7.50.

Ispire Technology Price Performance

ISPR opened at $2.30 on Wednesday. The stock has a market cap of $131.74 million, a price-to-earnings ratio of -3.33 and a beta of 2.74. Ispire Technology has a 1 year low of $2.09 and a 1 year high of $7.47. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 1.33. The stock has a fifty day moving average price of $2.85 and a 200 day moving average price of $2.84.

Ispire Technology (NASDAQ:ISPR - Get Free Report) last announced its quarterly earnings results on Monday, September 15th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.12). Ispire Technology had a negative return on equity of 223.15% and a negative net margin of 30.78%.The company had revenue of $20.14 million during the quarter, compared to analyst estimates of $22.40 million. Analysts forecast that Ispire Technology will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at Ispire Technology

In related news, insider Steven P. Pryzbyla sold 17,046 shares of the business's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $2.64, for a total transaction of $45,001.44. Following the completion of the transaction, the insider owned 399,664 shares of the company's stock, valued at approximately $1,055,112.96. The trade was a 4.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 65.43% of the company's stock.

Hedge Funds Weigh In On Ispire Technology

Several large investors have recently made changes to their positions in ISPR. Nuveen LLC bought a new position in Ispire Technology during the first quarter valued at about $67,000. Private Advisor Group LLC bought a new position in Ispire Technology during the first quarter valued at about $49,000. Finally, Bank of America Corp DE increased its stake 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 acquiring an additional 4,997 shares during the period. Institutional investors and hedge funds 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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