Ispire Technology (NASDAQ:ISPR) Trading Down 3.3%

Ispire Technology Inc. (NASDAQ:ISPR) fell 3.3% during trading on Monday . The company traded as low as $7.70 and last traded at $7.74. 95,992 shares changed hands during trading, an increase of 0% from the average session volume of 95,812 shares. The stock had previously closed at $8.00.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Roth Mkm reissued a “buy” rating and set a $11.00 price objective on shares of Ispire Technology in a research note on Friday, June 7th. Roth Capital raised Ispire Technology to a “strong-buy” rating in a research note on Monday, May 20th.

Ispire Technology Stock Performance

The business’s fifty day simple moving average is $6.76 and its 200 day simple moving average is $8.58. The stock has a market cap of $436.54 million, a price-to-earnings ratio of -32.25 and a beta of 2.84.

Ispire Technology (NASDAQ:ISPR) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.11) EPS for the quarter. Ispire Technology had a negative net margin of 8.79% and a negative return on equity of 34.23%. The business had revenue of $30.02 million during the quarter. As a group, analysts forecast that Ispire Technology Inc. will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Ispire Technology

A number of institutional investors have recently modified their holdings of ISPR. Mirae Asset Global Investments Co. Ltd. acquired a new position in Ispire Technology in the fourth quarter worth $464,000. Amalgamated Bank lifted its position in shares of Ispire Technology by 499.0% in the 4th quarter. Amalgamated Bank now owns 2,474 shares of the company’s stock worth $30,000 after buying an additional 2,061 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in shares of Ispire Technology in the 4th quarter valued at about $969,000. Finally, Tidal Investments LLC bought a new stake in shares of Ispire Technology during the 1st quarter valued at about $196,000. Institutional investors and hedge funds 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.