Ispire Technology (NASDAQ:ISPR) Given “Buy” Rating at Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Ispire Technology (NASDAQ:ISPR) in a report released on Thursday,Benzinga reports. They currently have a $9.00 price target on the stock.

Ispire Technology Price Performance

Shares of ISPR opened at $3.09 on Thursday. Ispire Technology has a 12 month low of $2.89 and a 12 month high of $8.40. The stock has a market cap of $176.41 million, a PE ratio of -7.54 and a beta of 2.78. The stock’s 50-day moving average is $4.32 and its two-hundred day moving average is $5.53.

Ispire Technology (NASDAQ:ISPR) last announced its earnings results on Friday, February 7th. The company reported ($0.14) earnings per share (EPS) 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%. On average, research analysts anticipate that Ispire Technology will post -0.44 earnings per share for the current year.

Ispire Technology announced that its Board of Directors has initiated a share buyback program on Wednesday, January 22nd that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Ispire Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN increased its position in shares of Ispire Technology by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 8,976 shares of the company’s stock worth $45,000 after acquiring an additional 3,060 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Ispire Technology during the fourth quarter worth about $54,000. MetLife Investment Management LLC increased its position in shares of Ispire Technology by 137.6% during the third quarter. MetLife Investment Management LLC now owns 11,764 shares of the company’s stock worth $73,000 after acquiring an additional 6,812 shares during the last quarter. Intech Investment Management LLC bought a new stake in Ispire Technology in the fourth quarter valued at about $60,000. Finally, Zacks Investment Management bought a new stake in Ispire Technology in the third quarter valued at about $96,000. 5.00% of the stock is owned by hedge funds and other institutional investors.

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.