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

Ispire Technology Inc. (NASDAQ:ISPR) saw 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. Currently, 4.1% of the shares of the stock are sold short. Based on an average daily volume of 88,600 shares, the days-to-cover ratio is currently 8.4 days.

Institutional Investors Weigh In On Ispire Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in Ispire Technology in the fourth quarter valued at about $54,000. JPMorgan Chase & Co. increased its holdings in Ispire Technology by 104.0% in the third quarter. JPMorgan Chase & Co. now owns 22,973 shares of the company’s stock valued at $143,000 after purchasing an additional 11,714 shares during the last quarter. Barclays PLC increased its holdings in Ispire Technology by 311.2% in the third quarter. Barclays PLC now owns 27,461 shares of the company’s stock valued at $171,000 after purchasing an additional 20,782 shares during the last quarter. Geode Capital Management LLC increased its holdings in Ispire Technology by 77.2% in the third quarter. Geode Capital Management LLC now owns 452,444 shares of the company’s stock valued at $2,808,000 after purchasing an additional 197,132 shares during the last quarter. Finally, Zacks Investment Management bought a new stake in Ispire Technology in the third quarter valued at about $96,000. Institutional investors own 5.00% of the company’s stock.

Ispire Technology Trading Down 2.2 %

Shares of ISPR traded down $0.10 during trading hours on Friday, hitting $4.55. 73,768 shares of the stock traded hands, compared to its average volume of 67,433. Ispire Technology has a 1-year low of $4.35 and a 1-year high of $12.14. The firm has a market capitalization of $257.76 million, a PE ratio of -13.38 and a beta of 2.92. The business has a fifty day moving average of $5.65 and a 200-day moving average of $6.49.

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

Analyst Ratings Changes

A number of equities analysts have commented on ISPR shares. Roth Capital raised Ispire Technology to a “strong-buy” rating in a research note on Friday, November 8th. Roth Mkm reissued a “buy” rating and issued a $12.50 price objective on shares of Ispire Technology in a research note on Wednesday, October 2nd.

About Ispire Technology

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.