Ispire Technology Inc. (NASDAQ:ISPR) Short Interest Up 6.4% in June

Ispire Technology Inc. (NASDAQ:ISPR) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 248,500 shares, a growth of 6.4% from the May 31st total of 233,600 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average trading volume of 70,300 shares, the short-interest ratio is currently 3.5 days.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ISPR shares. Roth Mkm reissued a “buy” rating and set a $11.00 price objective on shares of Ispire Technology in a research note on Friday, June 7th. Roth Capital upgraded shares of Ispire Technology to a “strong-buy” rating in a research report on Monday, May 20th.

Ispire Technology Stock Up 2.5 %

NASDAQ ISPR opened at $7.91 on Thursday. The stock’s 50-day simple moving average is $6.86 and its two-hundred day simple moving average is $8.55. Ispire Technology has a twelve month low of $5.01 and a twelve month high of $19.78. The company has a market capitalization of $446.13 million, a price-to-earnings ratio of -32.96 and a beta of 2.84.

Ispire Technology (NASDAQ:ISPR) last released its earnings results on Tuesday, May 14th. The company reported ($0.11) earnings per share for the quarter. The firm had revenue of $30.02 million during the quarter. Ispire Technology had a negative return on equity of 34.23% and a negative net margin of 8.79%. On average, equities analysts expect that Ispire Technology will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ispire Technology

Hedge funds have recently made changes to their positions in the business. Amalgamated Bank grew its holdings in shares of Ispire Technology by 499.0% during the 4th quarter. Amalgamated Bank now owns 2,474 shares of the company’s stock valued at $30,000 after purchasing an additional 2,061 shares during the last quarter. Tidal Investments LLC purchased a new stake in Ispire Technology during the first quarter valued at about $196,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ispire Technology during the fourth quarter valued at about $464,000. Finally, AdvisorShares Investments LLC purchased a new position in shares of Ispire Technology in the fourth quarter worth about $969,000. 5.00% of the stock is currently owned by institutional investors.

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.