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

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 trading volume, of 88,600 shares, the days-to-cover ratio is currently 8.4 days. Currently, 4.1% of the shares of the stock are sold short.

Ispire Technology Trading Down 2.2 %

Shares of NASDAQ ISPR opened at $4.55 on Monday. The business has a 50-day moving average of $5.65 and a 200-day moving average of $6.49. The firm has a market capitalization of $257.76 million, a price-to-earnings ratio of -13.38 and a beta of 2.92. Ispire Technology has a 12 month low of $4.35 and a 12 month high of $12.14.

Ispire Technology (NASDAQ:ISPR) last issued its quarterly earnings results on Monday, November 11th. The company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). The firm 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 firm earned ($0.04) EPS. On average, analysts predict that Ispire Technology will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On Ispire Technology

Several institutional investors have recently modified their holdings of ISPR. SG Americas Securities LLC bought a new stake in Ispire Technology in the 4th quarter worth approximately $54,000. MetLife Investment Management LLC lifted its holdings in shares of Ispire Technology by 137.6% in the 3rd quarter. MetLife Investment Management LLC now owns 11,764 shares of the company’s stock worth $73,000 after acquiring an additional 6,812 shares during the last quarter. Zacks Investment Management purchased a new stake in shares of Ispire Technology in the 3rd quarter valued at $96,000. JPMorgan Chase & Co. grew its holdings in shares of Ispire Technology by 104.0% during the 3rd 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. Finally, Barclays PLC raised 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 during the period. 5.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ISPR has been the topic of a number of analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $12.50 target price on shares of Ispire Technology in a report on Wednesday, October 2nd. Roth Capital raised shares of 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.