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

Ispire Technology Inc. (NASDAQ:ISPR) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 248,500 shares, an increase of 6.4% from the May 31st total of 233,600 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average trading volume of 70,300 shares, the short-interest ratio is currently 3.5 days.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Roth Capital raised shares of Ispire Technology to a “strong-buy” rating in a research report on Monday, May 20th. Roth Mkm reissued a “buy” rating and issued a $11.00 target price on shares of Ispire Technology in a research report on Friday, June 7th.

Institutional Investors Weigh In On Ispire Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. AdvisorShares Investments LLC purchased a new position in shares of Ispire Technology in the fourth quarter valued at $969,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Ispire Technology during the 4th quarter worth about $464,000. Tidal Investments LLC purchased a new position in Ispire Technology during the 1st quarter valued at about $196,000. Finally, Amalgamated Bank increased its position in shares of Ispire Technology by 499.0% during the fourth quarter. Amalgamated Bank now owns 2,474 shares of the company’s stock valued at $30,000 after buying an additional 2,061 shares during the period. Institutional investors own 5.00% of the company’s stock.

Ispire Technology Stock Performance

Shares of Ispire Technology stock opened at $7.72 on Wednesday. Ispire Technology has a 52-week low of $5.01 and a 52-week high of $19.78. The stock’s 50-day simple moving average is $6.81 and its 200 day simple moving average is $8.56.

Ispire Technology (NASDAQ:ISPR) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter. The business had revenue of $30.02 million during the quarter. Ispire Technology had a negative net margin of 8.79% and a negative return on equity of 34.23%. On average, sell-side analysts predict that Ispire Technology will post -0.3 earnings per share for the current year.

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.