Charles Schwab Investment Management Inc. Decreases Stake in Ispire Technology Inc. (NASDAQ:ISPR)

Charles Schwab Investment Management Inc. lowered its stake in Ispire Technology Inc. (NASDAQ:ISPR) by 5.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 46,503 shares of the company’s stock after selling 2,500 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Ispire Technology were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ISPR. Yong Rong HK Asset Management Ltd raised its holdings in Ispire Technology by 94.2% during the 2nd quarter. Yong Rong HK Asset Management Ltd now owns 1,669,515 shares of the company’s stock valued at $13,357,000 after buying an additional 809,819 shares during the last quarter. AdvisorShares Investments LLC boosted its position in Ispire Technology by 10.0% during the 2nd quarter. AdvisorShares Investments LLC now owns 175,858 shares of the company’s stock valued at $1,361,000 after buying an additional 16,000 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in 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 worth $369,000 after acquiring an additional 3,931 shares during the last quarter. Hedge funds and other institutional investors own 5.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ISPR shares. Roth Mkm reaffirmed a “buy” rating and set a $12.50 price objective on shares of Ispire Technology in a research note on Wednesday, October 2nd. Roth Capital raised Ispire Technology to a “strong-buy” rating in a research note on Friday, November 8th.

Ispire Technology Stock Down 3.4 %

Shares of Ispire Technology stock opened at $5.35 on Friday. The business has a 50 day moving average of $6.17 and a 200 day moving average of $6.82. Ispire Technology Inc. has a 52 week low of $5.01 and a 52 week high of $13.87. The company has a market cap of $303.06 million, a PE ratio of -15.74 and a beta of 2.84.

Ispire Technology (NASDAQ:ISPR) last issued its quarterly earnings data on Monday, November 11th. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). Ispire Technology had a negative net margin of 12.80% and a negative return on equity of 58.50%. The business had revenue of $39.34 million during the quarter, compared to analyst estimates of $45.60 million. During the same period in the prior year, the business earned ($0.04) EPS. On average, research analysts anticipate that Ispire Technology Inc. will post -0.24 earnings per share for the current year.

Ispire Technology 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.