Ispire Technology (NASDAQ:ISPR) Upgraded by Roth Capital to Strong-Buy Rating

Roth Capital upgraded shares of Ispire Technology (NASDAQ:ISPR) to a strong-buy rating in a research note issued to investors 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 Price Performance

Shares of Ispire Technology stock opened at $5.89 on Friday. The business has a 50-day simple moving average of $6.56 and a 200 day simple moving average of $6.91. The firm has a market capitalization of $333.62 million, a price-to-earnings ratio of -21.81 and a beta of 2.85. Ispire Technology has a one year low of $5.01 and a one year high of $19.78.

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

Hedge Funds Weigh In On Ispire Technology

Institutional investors have recently bought and sold shares of the company. Tidal Investments LLC purchased a new stake in shares of Ispire Technology during the first quarter worth $196,000. Bank of New York Mellon Corp increased its holdings in shares of Ispire Technology by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 46,119 shares of the company’s stock worth $369,000 after purchasing an additional 3,931 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Ispire Technology by 62.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,273 shares of the company’s stock valued at $382,000 after acquiring an additional 24,017 shares during the last quarter. AdvisorShares Investments LLC increased its stake in Ispire Technology by 10.0% in the second quarter. AdvisorShares Investments LLC now owns 175,858 shares of the company’s stock valued at $1,361,000 after acquiring an additional 16,000 shares during the last quarter. Finally, Yong Rong HK Asset Management Ltd increased its stake in Ispire Technology by 94.2% in the second 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 last quarter. 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.