Ispire Technology (NASDAQ:ISPR) Upgraded to Strong-Buy at BTIG Research

BTIG Research upgraded shares of Ispire Technology (NASDAQ:ISPR) to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

ISPR has been the topic of a number of other reports. Zacks Research upgraded Ispire Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings lowered Ispire Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.50.

Ispire Technology Stock Performance

NASDAQ ISPR opened at $1.66 on Tuesday. Ispire Technology has a twelve month low of $1.01 and a twelve month high of $3.87. The stock has a market cap of $95.28 million, a PE ratio of -2.72 and a beta of 2.18. The firm has a 50-day simple moving average of $1.68 and a 200 day simple moving average of $2.09.

Ispire Technology (NASDAQ:ISPR) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.15). The firm had revenue of $18.69 million for the quarter, compared to the consensus estimate of $22.60 million. Ispire Technology had a negative net margin of 38.20% and a negative return on equity of 2,383.89%. Research analysts forecast that Ispire Technology will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Ispire Technology by 7.7% during the fourth quarter. State Street Corp now owns 326,720 shares of the company’s stock valued at $915,000 after acquiring an additional 23,250 shares during the period. Goldman Sachs Group Inc. increased its position in Ispire Technology by 10.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 43,542 shares of the company’s stock worth $122,000 after purchasing an additional 4,226 shares during the period. Wells Fargo & Company MN raised its holdings in 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 purchasing an additional 9,037 shares during the last quarter. Orion Porfolio Solutions LLC bought a new stake in Ispire Technology during the 4th quarter worth about $64,000. Finally, Private Advisor Group LLC raised its holdings in 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 purchasing an additional 19,276 shares during the last quarter. 5.00% of the stock is currently owned by institutional investors.

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.