Roth Capital Upgrades Ispire Technology (NASDAQ:ISPR) to Strong-Buy

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

Separately, Roth Mkm reiterated a “buy” rating and set a $12.50 target price 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 company has a market capitalization of $333.62 million, a P/E ratio of -21.81 and a beta of 2.85. Ispire Technology has a 52-week low of $5.01 and a 52-week high of $19.78. The company’s 50 day moving average price is $6.56 and its 200-day moving average price is $6.91.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ISPR. AdvisorShares Investments LLC increased its stake in Ispire Technology by 10.0% during 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 in the last quarter. Yong Rong HK Asset Management Ltd increased its stake in Ispire Technology by 94.2% during 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 in the last quarter. Bank of New York Mellon Corp increased its stake 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 valued at $369,000 after purchasing an additional 3,931 shares in the last quarter. Tidal Investments LLC bought a new stake in Ispire Technology during the 1st quarter valued at $196,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Ispire Technology by 62.8% during 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 in the last quarter. 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.