Ispire Technology Inc. (NASDAQ:ISPR) Short Interest Up 9.7% in December

Ispire Technology Inc. (NASDAQ:ISPR) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 744,700 shares, an increase of 9.7% from the December 15th total of 678,800 shares. Currently, 4.1% of the company’s shares are sold short. Based on an average daily volume of 88,600 shares, the days-to-cover ratio is presently 8.4 days.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Roth Capital upgraded Ispire Technology to a “strong-buy” rating in a research note on Friday, November 8th. Roth Mkm restated a “buy” rating and issued a $12.50 price target on shares of Ispire Technology in a report on Wednesday, October 2nd.

Ispire Technology Price Performance

ISPR stock traded down $0.10 on Friday, hitting $4.55. 73,768 shares of the company were exchanged, compared to its average volume of 67,433. The stock has a market capitalization of $257.74 million, a price-to-earnings ratio of -13.38 and a beta of 2.92. Ispire Technology has a twelve month low of $4.35 and a twelve month high of $12.14. The business’s fifty day moving average is $5.65 and its two-hundred day moving average is $6.50.

Ispire Technology (NASDAQ:ISPR) last released its quarterly earnings data on Monday, November 11th. The company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). The business had revenue of $39.34 million during the quarter, compared to the consensus estimate of $45.60 million. Ispire Technology had a negative return on equity of 58.50% and a negative net margin of 12.80%. During the same period in the prior year, the firm posted ($0.04) EPS. Equities research analysts expect that Ispire Technology will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On Ispire Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Ispire Technology by 77.2% in the 3rd quarter. Geode Capital Management LLC now owns 452,444 shares of the company’s stock valued at $2,808,000 after purchasing an additional 197,132 shares in the last quarter. State Street Corp lifted its position in Ispire Technology by 2.0% during the third quarter. State Street Corp now owns 207,542 shares of the company’s stock valued at $1,288,000 after buying an additional 4,125 shares in the last quarter. Barclays PLC grew its stake in Ispire Technology by 311.2% during the third quarter. Barclays PLC now owns 27,461 shares of the company’s stock worth $171,000 after buying an additional 20,782 shares during the period. Bank of New York Mellon Corp grew its stake in Ispire Technology by 9.3% during the second 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. Finally, MetLife Investment Management LLC increased its position in shares of Ispire Technology by 137.6% in the third quarter. MetLife Investment Management LLC now owns 11,764 shares of the company’s stock worth $73,000 after acquiring an additional 6,812 shares in the last quarter. 5.00% of the stock is currently owned by institutional investors and hedge funds.

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.