Ispire Technology’s (ISPR) “Buy” Rating Reaffirmed at Roth Mkm

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

Ispire Technology Stock Up 5.0 %

Shares of NASDAQ ISPR opened at $3.33 on Thursday. The firm’s 50-day moving average price is $4.35 and its two-hundred day moving average price is $5.57. Ispire Technology has a 52-week low of $2.89 and a 52-week high of $9.39. The stock has a market capitalization of $190.11 million, a P/E ratio of -8.12 and a beta of 2.78.

Ispire Technology (NASDAQ:ISPR) last issued 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%. As a group, equities research analysts expect that Ispire Technology will post -0.44 earnings per share for the current year.

Ispire Technology announced that its board has authorized a share buyback plan on Wednesday, January 22nd that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Ispire Technology

A number of hedge funds have recently made changes to their positions in ISPR. MetLife Investment Management LLC raised its holdings 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 valued at $73,000 after buying an additional 6,812 shares during the last quarter. State Street Corp raised its holdings in shares of Ispire Technology by 2.0% during the third quarter. State Street Corp now owns 207,542 shares of the company’s stock valued at $1,288,000 after buying an additional 4,125 shares during the last quarter. Zacks Investment Management bought a new stake in shares of Ispire Technology during the third quarter valued at approximately $96,000. Barclays PLC raised its holdings in shares of Ispire Technology by 311.2% during the third quarter. Barclays PLC now owns 27,461 shares of the company’s stock valued at $171,000 after buying an additional 20,782 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Ispire Technology by 77.2% during the third quarter. Geode Capital Management LLC now owns 452,444 shares of the company’s stock valued at $2,808,000 after buying an additional 197,132 shares during the last quarter. Institutional investors own 5.00% of the company’s stock.

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.