Ispire Technology Inc. (NASDAQ:ISPR) Sees Significant Increase in Short Interest

Ispire Technology Inc. (NASDAQ:ISPR) was the recipient of a significant growth in short interest in February. As of February 13th, there was short interest totaling 768,870 shares, a growth of 22.8% from the January 29th total of 625,927 shares. Based on an average daily volume of 57,493 shares, the days-to-cover ratio is currently 13.4 days. Currently, 3.9% of the shares of the stock are sold short. Currently, 3.9% of the shares of the stock are sold short. Based on an average daily volume of 57,493 shares, the days-to-cover ratio is currently 13.4 days.

Ispire Technology Trading Down 11.7%

Shares of Ispire Technology stock traded down $0.26 during mid-day trading on Wednesday, hitting $1.96. The stock had a trading volume of 72,085 shares, compared to its average volume of 54,739. The firm has a 50-day moving average of $2.87 and a two-hundred day moving average of $2.65. The firm has a market cap of $112.29 million, a P/E ratio of -3.11 and a beta of 2.61. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 1.33. Ispire Technology has a 12-month low of $1.44 and a 12-month high of $4.70.

Ispire Technology (NASDAQ:ISPR) last released its quarterly earnings data on Friday, February 6th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The business had revenue of $20.29 million during the quarter, compared to analyst estimates of $32.80 million. Ispire Technology had a negative net margin of 36.62% and a negative return on equity of 2,383.89%. Sell-side analysts forecast that Ispire Technology will post -0.44 earnings per share for the current year.

Institutional Trading of Ispire Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in Ispire Technology by 28.5% in the third quarter. JPMorgan Chase & Co. now owns 18,529 shares of the company’s stock valued at $47,000 after buying an additional 4,107 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Ispire Technology by 10.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 43,542 shares of the company’s stock valued at $122,000 after acquiring an additional 4,226 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Ispire Technology by 35.3% in the 4th quarter. Bank of America Corp DE now owns 19,156 shares of the company’s stock valued at $96,000 after acquiring an additional 4,997 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Ispire Technology by 78.1% in the 4th quarter. Wells Fargo & Company MN now owns 20,611 shares of the company’s stock worth $58,000 after acquiring an additional 9,037 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Ispire Technology in the 4th quarter worth approximately $28,000. 5.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ISPR shares. Zacks Research lowered shares of Ispire Technology from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ispire Technology in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $7.50.

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.