Ispire Technology's (ISPR) Buy Rating Reaffirmed at Roth Mkm

Roth Mkm restated their buy rating on shares of Ispire Technology (NASDAQ:ISPR - Free Report) in a research note published on Thursday morning,Benzinga reports. Roth Mkm currently has a $9.00 target price on the stock.

Ispire Technology Trading Down 1.3 %

NASDAQ ISPR traded down $0.04 during trading hours on Thursday, reaching $3.05. The company had a trading volume of 47,347 shares, compared to its average volume of 75,805. Ispire Technology has a 1-year low of $2.89 and a 1-year high of $8.40. The stock has a market capitalization of $174.13 million, a P/E ratio of -7.44 and a beta of 2.78. The stock has a 50-day moving average of $4.29 and a 200 day moving average of $5.49.

Ispire Technology (NASDAQ:ISPR - Get Free Report) last posted its quarterly earnings data on Friday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.07). Ispire Technology had a negative return on equity of 73.44% and a negative net margin of 15.46%. As a group, sell-side analysts predict that Ispire Technology will post -0.44 EPS for the current year.

Ispire Technology declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 22nd that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to repurchase up to 4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

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Hedge Funds Weigh In On Ispire Technology

Several institutional investors have recently bought and sold shares of ISPR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ispire Technology by 44.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 288,434 shares of the company's stock valued at $1,451,000 after purchasing an additional 88,842 shares during the period. Bank of America Corp DE grew its stake in shares of Ispire Technology by 35.3% in the fourth quarter. Bank of America Corp DE now owns 19,156 shares of the company's stock worth $96,000 after acquiring an additional 4,997 shares in the last quarter. Northern Trust Corp increased its position in shares of Ispire Technology by 5.3% during the fourth quarter. Northern Trust Corp now owns 171,801 shares of the company's stock worth $864,000 after acquiring an additional 8,704 shares during the period. Barclays PLC increased its position in shares of Ispire Technology by 10.9% during the fourth quarter. Barclays PLC now owns 30,451 shares of the company's stock worth $153,000 after acquiring an additional 2,990 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Ispire Technology by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 8,976 shares of the company's stock valued at $45,000 after acquiring an additional 3,060 shares in the last quarter. 5.00% of the stock is owned by institutional investors and hedge funds.

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.