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Steven Pryzbyla, Chief Legal Officer and Secretary of Ispire Technology Inc. (NASDAQ:ISPR), recently sold shares of the company’s stock, according to a filing made public on March 19. Pryzbyla disposed of 500 shares on March 17 at a price of $3.57 each, totaling $1,785 in value. The sale comes amid challenging market conditions for ISPR, with the stock down over 37% year-to-date and currently trading near its 52-week low of $2.89. InvestingPro analysis indicates the stock is currently fairly valued, with multiple technical indicators suggesting oversold conditions.
Following this transaction, Pryzbyla holds 416,710 shares in the company. This figure includes 336,705 restricted stock units (RSUs) that have not yet vested. The RSUs are scheduled to vest in stages, with portions vesting in November 2025, 2026, and 2027. With a market capitalization of approximately $180 million, Ispire Technology maintains a weak overall financial health score according to InvestingPro metrics, which offers 12 additional investment tips and comprehensive analysis for this stock.
In other recent news, Ispire Technology Inc. reported a net loss of $8 million for the fourth quarter of 2024, with earnings per share (EPS) of -$0.14, missing the forecasted $0.01. Despite this earnings miss, the company achieved a revenue of $41.8 million, marking a slight year-over-year increase of 0.3%. The company also announced a change in its independent auditor, dismissing CBIZ (NYSE:CBZ) CPAs and appointing Marcum Asia CPAs LLP for the fiscal year ending June 30, 2025. Additionally, Tiger Securities analysts revised their outlook on Ispire Technology, cutting the stock price target from $6.50 to $5.50, while maintaining a Hold rating. This adjustment follows Ispire’s report of stronger second-quarter revenue but softer margins, with a noted delay in reaching a break-even point due to strategic shifts. Ispire Technology is also undergoing a leadership change, as Mr. Tirdad Rouhani has departed from his position as President. The company did not provide further details on the circumstances of his departure or plans for succession. These developments reflect ongoing adjustments within Ispire Technology’s financial and operational strategies.
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