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

Ispire Technology (NASDAQ:ISPR) was upgraded by BTIG Research to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on ISPR. Zacks Research upgraded shares of Ispire Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings lowered shares of Ispire Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.50.

Ispire Technology Stock Down 2.4%

NASDAQ:ISPR opened at $1.66 on Tuesday. The company has a market capitalization of $95.28 million, a PE ratio of -2.72 and a beta of 2.18. Ispire Technology has a 52-week low of $1.01 and a 52-week high of $3.87. The stock has a fifty day simple moving average of $1.68 and a 200-day simple moving average of $2.09.

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

Institutional Trading of Ispire Technology

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its position in Ispire Technology by 7.7% during the 4th quarter. State Street Corp now owns 326,720 shares of the company’s stock worth $915,000 after purchasing an additional 23,250 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Ispire Technology by 78.1% in the 4th quarter. Wells Fargo & Company MN now owns 20,611 shares of the company’s stock valued at $58,000 after purchasing an additional 9,037 shares in the last quarter. Orion Porfolio Solutions LLC purchased a new position in Ispire Technology in the 4th quarter valued at about $64,000. Renaissance Technologies LLC purchased a new position in Ispire Technology in the 4th quarter valued at about $28,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Ispire Technology by 10.7% during the 4th 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 last quarter. 5.00% of the stock is currently owned by hedge funds and other institutional investors.

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.