Ispire Technology Inc. (NASDAQ:ISPR) Shares Sold by Yong Rong HK Asset Management Ltd

Yong Rong HK Asset Management Ltd trimmed its stake in Ispire Technology Inc. (NASDAQ:ISPR - Free Report) by 9.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,518,721 shares of the company's stock after selling 150,794 shares during the period. Ispire Technology comprises 2.7% of Yong Rong HK Asset Management Ltd's investment portfolio, making the stock its 13th biggest holding. Yong Rong HK Asset Management Ltd owned approximately 2.69% of Ispire Technology worth $9,424,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tidal Investments LLC purchased a new stake in shares of Ispire Technology in the 1st quarter valued at approximately $196,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ispire Technology by 62.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,273 shares of the company's stock valued at $382,000 after acquiring an additional 24,017 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Ispire Technology by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 46,119 shares of the company's stock valued at $369,000 after acquiring an additional 3,931 shares during the period. Finally, AdvisorShares Investments LLC raised its stake in shares of Ispire Technology by 10.0% in the 2nd quarter. AdvisorShares Investments LLC now owns 175,858 shares of the company's stock valued at $1,361,000 after acquiring an additional 16,000 shares during the period. 5.00% of the stock is owned by hedge funds and other institutional investors.

Ispire Technology Price Performance

ISPR traded up $0.08 during trading hours on Friday, hitting $5.69. 47,570 shares of the company's stock were exchanged, compared to its average volume of 83,102. Ispire Technology Inc. has a 12-month low of $5.01 and a 12-month high of $19.78. The firm has a 50 day moving average of $6.71 and a 200 day moving average of $6.87.

Ispire Technology (NASDAQ:ISPR - Get Free Report) last announced its earnings results on Thursday, September 26th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. Ispire Technology had a negative net margin of 9.72% and a negative return on equity of 45.39%. The firm had revenue of $37.34 million for the quarter, compared to the consensus estimate of $34.00 million. On average, research analysts forecast that Ispire Technology Inc. will post -0.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Roth Mkm reaffirmed a "buy" rating and set a $12.50 target price on shares of Ispire Technology in a research note on Wednesday, October 2nd.

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.