Ispire Technology Inc [NASDAQ: ISPR] traded at a low on Thursday, posting a 0.00 loss after which it closed the day’ session at $6.13. The company report on March 26, 2024 at 4:30 PM that Ispire Technology Announces Closing of $12.3 Million Public Offering.
Ispire Technology Inc. (“Ispire” or the “Company”) (NASDAQ: ISPR), a leader in the research and development, design, commercialization, sales, marketing and distribution of branded e-cigarettes and cannabis vaping products, today announced the closing of a public offering of 2,050,000 shares of common stock at a price of $6.00 per share for gross proceeds of $12,300,000, prior to deducting the placement agent fees and offering expenses payable by the Company.
Roth Capital Partners acted as the lead placement agent for the offering. TFI Securities and Futures Limited acted as co-placement agent for the offering.
The results of the trading session contributed to over 120823 shares changing hands. Over the past one week, the price volatility of Ispire Technology Inc stands at 8.26% while the volatility over the past one month is 6.23%.
The market cap for ISPR stock reached $332.74 million, with 54.22 million shares outstanding and 14.48 million shares in the current float. Compared to the average trading volume of 125.80K shares, ISPR reached a trading volume of 120823 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Ispire Technology Inc [ISPR]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ISPR shares is $11.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ISPR stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for Ispire Technology Inc is set at 0.74, with the Price to Sales ratio for ISPR stock in the period of the last 12 months amounting to 2.35. The Price to Book ratio for the last quarter was 11.48, with the Price to Cash per share for the same quarter was set at 0.49.
How has ISPR stock performed recently?
Ispire Technology Inc [ISPR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -24.46. With this latest performance, ISPR shares dropped by -39.19% in over the last four-week period, additionally sinking by -31.35% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ISPR stock in for the last two-week period is set at 26.81, with the RSI for the last a single of trading hit 21.73, and the three-weeks RSI is set at 31.68 for Ispire Technology Inc [ISPR]. The present Moving Average for the last 50 days of trading for this stock 9.79, while it was recorded at 6.00 for the last single week of trading, and 9.82 for the last 200 days.
Ispire Technology Inc [ISPR]: Deeper insight into the fundamentals
Ispire Technology Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.29 and a Current Ratio set at 1.42.
Insider trade positions for Ispire Technology Inc [ISPR]
The top three institutional holders of ISPR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ISPR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ISPR stock with ownership which is approximately 5.8325%.
