Ispire Technology (NASDAQ:ISPR) Rating Lowered to Strong Sell at Zacks Research

Ispire Technology (NASDAQ:ISPR) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Ispire Technology Price Performance

Shares of NASDAQ ISPR opened at $2.70 on Tuesday. The business’s 50 day moving average is $2.94 and its 200-day moving average is $2.91. The firm has a market cap of $154.66 million, a P/E ratio of -3.91 and a beta of 2.85. 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.

Ispire Technology (NASDAQ:ISPR) last posted its quarterly earnings data on Monday, September 15th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $20.14 million for the quarter, compared to the consensus estimate of $22.40 million. Equities research analysts predict that Ispire Technology will post -0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC bought a new stake in Ispire Technology during the first quarter worth about $49,000. Nuveen LLC bought a new position in Ispire Technology in the 1st quarter valued at about $67,000. Bank of America Corp DE raised its position in shares of Ispire Technology by 35.3% in the 4th quarter. Bank of America Corp DE now owns 19,156 shares of the company’s stock valued at $96,000 after buying an additional 4,997 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Ispire Technology by 5.3% during the 4th quarter. Northern Trust Corp now owns 171,801 shares of the company’s stock worth $864,000 after acquiring an additional 8,704 shares during the period. 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.