Shares of Ispire Technology Inc. (NASDAQ:ISPR - Get Free Report) were down 1.9% during trading on Friday . The company traded as low as $6.16 and last traded at $6.21. Approximately 34,028 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 112,445 shares. The stock had previously closed at $6.33.
Wall Street Analysts Forecast Growth
Separately, Roth Mkm reaffirmed a "buy" rating and set a $12.50 price target on shares of Ispire Technology in a research note on Wednesday, October 2nd.
Read Our Latest Report on ISPR
Ispire Technology Price Performance
The firm has a fifty day moving average of $6.86 and a two-hundred day moving average of $6.86. The stock has a market capitalization of $350.25 million, a P/E ratio of -25.88 and a beta of 2.84.
Ispire Technology (NASDAQ:ISPR - Get Free Report) last posted its quarterly earnings results on Thursday, September 26th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Ispire Technology had a negative net margin of 9.72% and a negative return on equity of 45.39%. The business had revenue of $37.34 million during the quarter, compared to analyst estimates of $34.00 million. As a group, sell-side analysts forecast that Ispire Technology Inc. will post -0.21 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in ISPR. Bank of New York Mellon Corp raised its stake in shares of Ispire Technology by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 46,119 shares of the company's stock worth $369,000 after acquiring an additional 3,931 shares in the last quarter. AdvisorShares Investments LLC lifted its holdings in shares of Ispire Technology by 10.0% during the 2nd quarter. AdvisorShares Investments LLC now owns 175,858 shares of the company's stock valued at $1,361,000 after purchasing an additional 16,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ispire Technology by 62.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,273 shares of the company's stock valued at $382,000 after purchasing an additional 24,017 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Ispire Technology in the 1st quarter worth $196,000. Finally, Yong Rong HK Asset Management Ltd grew its stake in Ispire Technology by 94.2% during the 2nd quarter. Yong Rong HK Asset Management Ltd now owns 1,669,515 shares of the company's stock worth $13,357,000 after buying an additional 809,819 shares during the last quarter. 5.00% of the stock is owned by institutional investors.
Ispire Technology Company Profile
(
Get Free Report)
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.
Further Reading
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