Ispire Technology (NASDAQ:ISPR) Stock Rating Upgraded by Roth Capital

Roth Capital upgraded shares of Ispire Technology (NASDAQ:ISPR) to a strong-buy rating in a report issued on Friday morning,Zacks.com reports.

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

Ispire Technology Stock Performance

Shares of NASDAQ ISPR opened at $5.89 on Friday. The stock has a 50 day moving average price of $6.56 and a 200 day moving average price of $6.91. Ispire Technology has a 52 week low of $5.01 and a 52 week high of $19.78. The stock has a market capitalization of $333.62 million, a PE ratio of -21.81 and a beta of 2.85.

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

Institutional Investors Weigh In On Ispire Technology

Several hedge funds have recently modified their holdings of the company. Tidal Investments LLC acquired a new position in Ispire Technology during the 1st quarter worth about $196,000. Bank of New York Mellon Corp lifted its holdings in Ispire Technology by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 46,119 shares of the company’s stock worth $369,000 after buying an additional 3,931 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ispire Technology by 62.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,273 shares of the company’s stock valued at $382,000 after purchasing an additional 24,017 shares during the period. AdvisorShares Investments LLC lifted its stake in shares of Ispire Technology by 10.0% in the 2nd quarter. AdvisorShares Investments LLC now owns 175,858 shares of the company’s stock valued at $1,361,000 after purchasing an additional 16,000 shares during the period. Finally, Yong Rong HK Asset Management Ltd lifted 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 purchasing an additional 809,819 shares during the period. Institutional investors and hedge funds 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.