Ispire Technology Inc. (NASDAQ:ISPR) Short Interest Update

Ispire Technology Inc. (NASDAQ:ISPR - Get Free Report) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 744,700 shares, an increase of 9.7% from the December 15th total of 678,800 shares. Approximately 4.1% of the company's stock are sold short. Based on an average daily volume of 88,600 shares, the days-to-cover ratio is currently 8.4 days.

Analyst Ratings Changes

ISPR has been the subject of a number of analyst reports. Roth Mkm reissued a "buy" rating and set a $12.50 price objective on shares of Ispire Technology in a research report on Wednesday, October 2nd. Roth Capital raised shares of Ispire Technology to a "strong-buy" rating in a research report on Friday, November 8th.

Ispire Technology Price Performance

Shares of NASDAQ ISPR traded down $0.10 during midday trading on Friday, hitting $4.55. 73,768 shares of the company's stock were exchanged, compared to its average volume of 67,433. The firm's fifty day simple moving average is $5.65 and its 200-day simple moving average is $6.49. The company has a market cap of $257.76 million, a PE ratio of -13.38 and a beta of 2.92. Ispire Technology has a twelve month low of $4.35 and a twelve month high of $12.14.

Ispire Technology (NASDAQ:ISPR - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). Ispire Technology had a negative net margin of 12.80% and a negative return on equity of 58.50%. The company had revenue of $39.34 million during the quarter, compared to the consensus estimate of $45.60 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. Equities analysts anticipate that Ispire Technology will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Ispire Technology in the fourth quarter valued at approximately $54,000. MetLife Investment Management LLC boosted its stake in Ispire Technology by 137.6% during the 3rd quarter. MetLife Investment Management LLC now owns 11,764 shares of the company's stock worth $73,000 after purchasing an additional 6,812 shares during the period. Zacks Investment Management acquired a new stake in Ispire Technology during the 3rd quarter worth $96,000. JPMorgan Chase & Co. grew its position in Ispire Technology by 104.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,973 shares of the company's stock worth $143,000 after purchasing an additional 11,714 shares during the last quarter. Finally, Barclays PLC increased its stake in Ispire Technology by 311.2% in the third quarter. Barclays PLC now owns 27,461 shares of the company's stock valued at $171,000 after purchasing an additional 20,782 shares during the period. Hedge funds and other 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.