Ispire Technology (NASDAQ:ISPR) Shares Up 0.2% - Still a Buy?

Ispire Technology Inc. (NASDAQ:ISPR - Get Free Report) traded up 0.2% on Friday . The company traded as high as $4.50 and last traded at $4.30. 24,442 shares were traded during mid-day trading, a decline of 70% from the average session volume of 82,318 shares. The stock had previously closed at $4.29.

Ispire Technology Price Performance

The business's 50 day simple moving average is $4.55 and its 200 day simple moving average is $5.75. The company has a market capitalization of $228.93 million, a price-to-earnings ratio of -9.78 and a beta of 2.78.

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 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, analysts expect that Ispire Technology Inc. will post -0.44 EPS for the current fiscal year.

Ispire Technology announced that its board has initiated a stock repurchase program on Wednesday, January 22nd that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the company to reacquire up to 4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Institutional Trading of Ispire Technology

A number of institutional investors have recently added to or reduced their stakes in ISPR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 acquiring an additional 88,842 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Ispire Technology by 35.3% in the 4th quarter. Bank of America Corp DE now owns 19,156 shares of the company's stock worth $96,000 after purchasing an additional 4,997 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Ispire Technology by 5.3% in the 4th 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 lifted its position in Ispire Technology by 10.9% in the 4th quarter. Barclays PLC now owns 30,451 shares of the company's stock valued at $153,000 after purchasing an additional 2,990 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Ispire Technology by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 8,976 shares of the company's stock valued at $45,000 after purchasing an additional 3,060 shares during the last quarter. 5.00% of the stock is owned by hedge funds and other institutional investors.

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Ispire Technology Company Profile

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.