Ispire Technology Inc. (NASDAQ:ISPR) Short Interest Up 6.1% in September

Ispire Technology Inc. (NASDAQ:ISPR) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 438,100 shares, a growth of 6.1% from the August 31st total of 412,900 shares. Based on an average daily trading volume, of 89,500 shares, the days-to-cover ratio is currently 4.9 days. Currently, 2.6% of the shares of the stock are short sold.

Institutional Investors Weigh In On Ispire Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC purchased a new stake in Ispire Technology in the 1st quarter valued at about $196,000. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 purchasing an additional 24,017 shares during the period. Bank of New York Mellon Corp increased its position 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 purchasing an additional 3,931 shares during the last quarter. AdvisorShares Investments LLC raised its stake in Ispire Technology by 10.0% during the second quarter. AdvisorShares Investments LLC now owns 175,858 shares of the company’s stock worth $1,361,000 after purchasing an additional 16,000 shares during the period. Finally, Yong Rong HK Asset Management Ltd boosted its holdings 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 last quarter. Hedge funds and other institutional investors own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reiterated a “buy” rating and issued a $12.50 price objective (up from $11.00) on shares of Ispire Technology in a research report on Monday, July 22nd.

Ispire Technology Stock Performance

Shares of NASDAQ:ISPR opened at $6.26 on Wednesday. The business’s fifty day moving average price is $7.12 and its two-hundred day moving average price is $6.89. The stock has a market cap of $353.07 million, a PE ratio of -26.08 and a beta of 2.84. Ispire Technology has a one year low of $5.01 and a one year high of $19.78.

Ispire Technology (NASDAQ:ISPR) last posted its quarterly earnings data on Thursday, September 26th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $37.34 million for the quarter, compared to analyst estimates of $34.00 million. Ispire Technology had a negative return on equity of 34.23% and a negative net margin of 8.79%. As a group, equities research analysts predict that Ispire Technology will post -0.3 earnings per share for the current fiscal year.

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.