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

Ispire Technology Inc. (NASDAQ:ISPR) was the recipient of a significant increase in short interest in 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. Based on an average daily volume of 88,600 shares, the short-interest ratio is presently 8.4 days. Approximately 4.1% of the company’s stock are sold short.

Ispire Technology Trading Down 2.2 %

ISPR opened at $4.55 on Monday. Ispire Technology has a 1-year low of $4.35 and a 1-year high of $12.14. The company has a market cap of $257.76 million, a price-to-earnings ratio of -13.38 and a beta of 2.92. The company’s fifty day moving average price is $5.65 and its two-hundred day moving average price is $6.49.

Ispire Technology (NASDAQ:ISPR) last posted its earnings results on Monday, November 11th. The company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). The company had revenue of $39.34 million for the quarter, compared to analyst estimates of $45.60 million. Ispire Technology had a negative net margin of 12.80% and a negative return on equity of 58.50%. During the same quarter in the prior year, the business posted ($0.04) EPS. As a group, equities analysts forecast that Ispire Technology will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Ispire Technology in the 4th quarter valued at $54,000. MetLife Investment Management LLC raised its holdings 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 valued at $73,000 after purchasing an additional 6,812 shares during the last quarter. Zacks Investment Management bought a new position in shares of Ispire Technology during the third quarter valued at about $96,000. JPMorgan Chase & Co. boosted its holdings in Ispire Technology by 104.0% during the third quarter. JPMorgan Chase & Co. now owns 22,973 shares of the company’s stock worth $143,000 after purchasing an additional 11,714 shares during the last quarter. Finally, Barclays PLC grew its position in Ispire Technology by 311.2% in the 3rd quarter. Barclays PLC now owns 27,461 shares of the company’s stock worth $171,000 after purchasing an additional 20,782 shares in the last quarter. Institutional investors own 5.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Roth Mkm reissued a “buy” rating and set a $12.50 price objective on shares of Ispire Technology in a research report on Wednesday, October 2nd. Roth Capital upgraded Ispire Technology to a “strong-buy” rating in a report on Friday, November 8th.

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.