Ispire Technology Inc. (NASDAQ:ISPR - Get Free Report) shares dropped 3.1% during trading on Monday . The company traded as low as $2.81 and last traded at $2.85. Approximately 27,166 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 75,929 shares. The stock had previously closed at $2.94.
Analyst Ratings Changes
Separately, Roth Mkm restated a "buy" rating and issued a $9.00 target price on shares of Ispire Technology in a research report on Thursday, March 20th.
Check Out Our Latest Report on Ispire Technology
Ispire Technology Stock Performance
The firm has a 50-day moving average of $3.55 and a 200-day moving average of $4.87. The firm has a market capitalization of $163.05 million, a P/E ratio of -6.97 and a beta of 3.22.
Ispire Technology (NASDAQ:ISPR - Get Free Report) last released its quarterly earnings results on Friday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.07). Ispire Technology had a negative net margin of 15.46% and a negative return on equity of 73.44%. Equities analysts anticipate that Ispire Technology Inc. will post -0.44 EPS for the current fiscal year.
Ispire Technology declared that its board has approved a share buyback plan on Wednesday, January 22nd that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the company to buy up to 4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On Ispire Technology
Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in Ispire Technology by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 8,976 shares of the company's stock worth $45,000 after purchasing an additional 3,060 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Ispire Technology during the fourth quarter valued at $54,000. Intech Investment Management LLC bought a new stake in Ispire Technology in the 4th quarter worth about $60,000. Bank of America Corp DE raised its holdings in shares of Ispire Technology by 35.3% during the fourth quarter. Bank of America Corp DE now owns 19,156 shares of the company's stock valued at $96,000 after purchasing an additional 4,997 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Ispire Technology by 104.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,973 shares of the company's stock valued at $143,000 after buying an additional 11,714 shares during the last quarter. Institutional investors own 5.00% of the company's stock.
Ispire Technology Company Profile
(
Get Free Report)
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.
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