Ispire Technology (NASDAQ:ISPR) Upgraded by Roth Capital to Strong-Buy Rating

Ispire Technology (NASDAQ:ISPR - Get Free Report) was upgraded by stock analysts at Roth Capital to a "strong-buy" rating in a research report issued on Friday,Zacks.com reports.

Separately, Roth Mkm restated a "buy" rating and set a $12.50 target price on shares of Ispire Technology in a report on Wednesday, October 2nd.

Ispire Technology Stock Performance

Shares of NASDAQ:ISPR traded up $0.11 during midday trading on Friday, hitting $6.00. 30,796 shares of the stock were exchanged, compared to its average volume of 93,442. Ispire Technology has a 52-week low of $5.01 and a 52-week high of $19.78. The business's fifty day simple moving average is $6.56 and its two-hundred day simple moving average is $6.91. The company has a market capitalization of $339.85 million, a PE ratio of -21.81 and a beta of 2.85.

Ispire Technology (NASDAQ:ISPR - Get Free Report) last posted its earnings results on Thursday, September 26th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. Ispire Technology had a negative return on equity of 45.39% and a negative net margin of 9.72%. The company had revenue of $37.34 million for the quarter, compared to analyst estimates of $34.00 million. As a group, equities analysts anticipate that Ispire Technology will post -0.21 EPS for the current year.

Institutional Investors Weigh In On Ispire Technology

A number of institutional investors have recently added to or reduced their stakes in ISPR. Tidal Investments LLC acquired a new stake in Ispire Technology during the first quarter worth about $196,000. Bank of New York Mellon Corp lifted its stake in Ispire Technology by 9.3% during the second quarter. Bank of New York Mellon Corp now owns 46,119 shares of the company's stock worth $369,000 after purchasing an additional 3,931 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Ispire Technology by 62.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,273 shares of the company's stock worth $382,000 after purchasing an additional 24,017 shares during the period. AdvisorShares Investments LLC lifted its stake in Ispire Technology by 10.0% during the second quarter. AdvisorShares Investments LLC now owns 175,858 shares of the company's stock worth $1,361,000 after purchasing an additional 16,000 shares during the period. Finally, Yong Rong HK Asset Management Ltd lifted its stake in Ispire Technology by 94.2% during the second quarter. Yong Rong HK Asset Management Ltd now owns 1,669,515 shares of the company's stock worth $13,357,000 after purchasing an additional 809,819 shares during the period. 5.00% of the stock is owned by institutional investors and hedge funds.

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.