Ispire Technology (NASDAQ:ISPR) Raised to “Strong-Buy” at Roth Capital

Ispire Technology (NASDAQ:ISPR) was upgraded by equities researchers at Roth Capital to a “strong-buy” rating in a research note issued on Friday,Zacks.com reports.

Separately, Roth Mkm restated a “buy” rating and issued a $12.50 target price on shares of Ispire Technology in a research note on Wednesday, October 2nd.

Ispire Technology Stock Performance

Shares of Ispire Technology stock opened at $5.89 on Friday. The company has a market capitalization of $333.62 million, a P/E ratio of -21.81 and a beta of 2.85. The company has a fifty day moving average of $6.56 and a 200 day moving average of $6.91. Ispire Technology has a fifty-two week low of $5.01 and a fifty-two week high of $19.78.

Ispire Technology (NASDAQ:ISPR) last posted its quarterly earnings data on Thursday, September 26th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $37.34 million for the quarter, compared to analyst estimates of $34.00 million. Ispire Technology had a negative net margin of 9.72% and a negative return on equity of 45.39%. Analysts forecast that Ispire Technology will post -0.21 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ISPR. AdvisorShares Investments LLC raised 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. Yong Rong HK Asset Management Ltd raised its stake in shares of Ispire Technology by 94.2% in the 2nd quarter. Yong Rong HK Asset Management Ltd now owns 1,669,515 shares of the company’s stock valued at $13,357,000 after acquiring an additional 809,819 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Ispire Technology by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 46,119 shares of the company’s stock valued at $369,000 after acquiring an additional 3,931 shares during the period. Tidal Investments LLC purchased a new stake in shares of Ispire Technology in the 1st quarter valued at approximately $196,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in 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 worth $382,000 after buying an additional 24,017 shares during the period. Hedge funds and other institutional investors own 5.00% of the company’s stock.

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.