Short Interest in Ispire Technology Inc. (NASDAQ:ISPR) Rises By 22.8%
by Scott Moore · The Cerbat GemIspire Technology Inc. (NASDAQ:ISPR – Get Free Report) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 768,870 shares, an increase of 22.8% from the January 29th total of 625,927 shares. Based on an average daily trading volume, of 57,493 shares, the days-to-cover ratio is presently 13.4 days. Approximately 3.9% of the company’s shares are short sold. Approximately 3.9% of the company’s shares are short sold. Based on an average daily trading volume, of 57,493 shares, the days-to-cover ratio is presently 13.4 days.
Ispire Technology Trading Down 4.3%
Ispire Technology stock traded down $0.10 during midday trading on Tuesday, hitting $2.22. 65,727 shares of the stock were exchanged, compared to its average volume of 56,693. Ispire Technology has a 52 week low of $1.44 and a 52 week high of $4.70. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $127.18 million, a PE ratio of -3.52 and a beta of 2.61. The company has a fifty day simple moving average of $2.90 and a two-hundred day simple moving average of $2.66.
Ispire Technology (NASDAQ:ISPR – Get Free Report) last posted its earnings results on Friday, February 6th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Ispire Technology had a negative return on equity of 2,383.89% and a negative net margin of 36.62%.The firm had revenue of $20.29 million during the quarter, compared to analyst estimates of $32.80 million. Equities research analysts anticipate that Ispire Technology will post -0.44 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Ispire Technology in a research report on Monday, December 29th. Zacks Research lowered Ispire Technology from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Ispire Technology presently has a consensus rating of “Reduce” and a consensus price target of $7.50.
Get Our Latest Research Report on Ispire Technology
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ISPR. State Street Corp raised its position in shares of Ispire Technology by 7.7% during the fourth quarter. State Street Corp now owns 326,720 shares of the company’s stock worth $915,000 after purchasing an additional 23,250 shares during the period. Orion Porfolio Solutions LLC acquired a new position in shares of Ispire Technology in the 4th quarter valued at approximately $64,000. Private Advisor Group LLC increased its stake in Ispire Technology by 129.6% during the 3rd quarter. Private Advisor Group LLC now owns 34,148 shares of the company’s stock worth $87,000 after purchasing an additional 19,276 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Ispire Technology during the 4th quarter worth approximately $28,000. Finally, Wells Fargo & Company MN raised its holdings in Ispire Technology by 78.1% during the 4th quarter. Wells Fargo & Company MN now owns 20,611 shares of the company’s stock worth $58,000 after buying an additional 9,037 shares during the period. 5.00% of the stock is owned by institutional investors and hedge funds.
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.