Key Points
- Insider sale: Steven Pryzbyla sold 3,000 Ispire shares on Feb. 12 at an average $3.41 for $10,230, reducing his stake by 0.75% to 396,664 shares, according to an SEC filing.
- Earnings miss and weak financials: Ispire reported quarterly revenue of $20.29M and EPS of ($0.12), missing expectations (revenue $32.8M, EPS ($0.01)) and showing a negative net margin (−36.62%) and extreme negative ROE.
- Analyst and institutional stance: The stock carries an average "Reduce" rating with a $7.50 target and recent downgrades (Zacks to "strong sell"), while about 5% of shares are held by institutional investors despite some funds modestly increasing positions.
Ispire Technology Inc. (NASDAQ:ISPR - Get Free Report) insider Steven Pryzbyla sold 3,000 shares of Ispire Technology stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $3.41, for a total value of $10,230.00. Following the sale, the insider owned 396,664 shares in the company, valued at $1,352,624.24. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Ispire Technology Price Performance
ISPR opened at $3.01 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 1.33. The company has a market cap of $172.44 million, a price-to-earnings ratio of -4.78 and a beta of 2.42. The stock has a fifty day simple moving average of $2.96 and a two-hundred day simple moving average of $2.68. Ispire Technology Inc. has a 12-month low of $1.44 and a 12-month high of $4.98.
Ispire Technology (NASDAQ:ISPR - Get Free Report) last released its earnings results on Friday, February 6th. The company reported ($0.12) earnings per share 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 analysts' expectations of $32.80 million. Ispire Technology had a negative return on equity of 2,383.89% and a negative net margin of 36.62%. Research analysts predict that Ispire Technology Inc. will post -0.44 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. State Street Corp raised its holdings in Ispire Technology by 7.7% in the fourth quarter. State Street Corp now owns 326,720 shares of the company's stock worth $915,000 after buying an additional 23,250 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 in the last quarter. Private Advisor Group LLC raised its holdings in Ispire Technology by 129.6% in the 3rd quarter. Private Advisor Group LLC now owns 34,148 shares of the company's stock worth $87,000 after acquiring an additional 19,276 shares during the last quarter. Orion Porfolio Solutions LLC purchased a new position in Ispire Technology in the 4th quarter worth approximately $64,000. Finally, Wells Fargo & Company MN lifted its position in Ispire Technology by 78.1% in the 4th quarter. Wells Fargo & Company MN now owns 20,611 shares of the company's stock valued at $58,000 after acquiring an additional 9,037 shares in the last quarter. 5.00% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ispire Technology in a report on Monday, December 29th. Zacks Research downgraded Ispire Technology from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $7.50.
Read Our Latest Report on Ispire Technology
About Ispire Technology
(
Get Free Report)
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.
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