Ispire Technology Inc. (NASDAQ:ISPR) Short Interest Down 14.1% in October

Ispire Technology Inc. (NASDAQ:ISPR) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 849,000 shares, a decline of 14.1% from the September 30th total of 988,700 shares. Based on an average trading volume of 101,000 shares, the short-interest ratio is presently 8.4 days. Approximately 5.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ISPR. Yong Rong HK Asset Management Ltd increased its holdings in Ispire Technology by 94.2% in the 2nd quarter. Yong Rong HK Asset Management Ltd now owns 1,669,515 shares of the company’s stock worth $13,357,000 after acquiring an additional 809,819 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Ispire Technology in the first quarter worth approximately $196,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ispire Technology by 62.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,273 shares of the company’s stock worth $382,000 after purchasing an additional 24,017 shares in the last quarter. AdvisorShares Investments LLC raised its position in shares of Ispire Technology by 10.0% during the 2nd quarter. AdvisorShares Investments LLC now owns 175,858 shares of the company’s stock valued at $1,361,000 after purchasing an additional 16,000 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Ispire Technology by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 46,119 shares of the company’s stock valued at $369,000 after buying an additional 3,931 shares in the last quarter. 5.00% of the stock is owned by hedge funds and other institutional investors.

Ispire Technology Price Performance

Shares of ISPR traded down $0.36 on Thursday, reaching $5.61. The company’s stock had a trading volume of 92,698 shares, compared to its average volume of 93,376. Ispire Technology has a 12-month low of $5.01 and a 12-month high of $19.78. The stock has a market capitalization of $317.76 million, a P/E ratio of -22.11 and a beta of 2.84. The stock’s 50 day simple moving average is $6.77 and its two-hundred day simple moving average is $6.87.

Ispire Technology (NASDAQ:ISPR) last posted its quarterly earnings data on Thursday, September 26th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. The firm had revenue of $37.34 million during the quarter, compared to analyst estimates of $34.00 million. Ispire Technology had a negative return on equity of 45.39% and a negative net margin of 9.72%. Analysts expect that Ispire Technology will post -0.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reissued a “buy” rating and issued a $12.50 target price on shares of Ispire Technology in a report 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.