Ispire Technology (NASDAQ:ISPR) Trading 0.2% Higher – Should You Buy?

Ispire Technology Inc. (NASDAQ:ISPR) shares rose 0.2% during trading on Friday . The stock traded as high as $4.50 and last traded at $4.30. Approximately 24,442 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 82,318 shares. The stock had previously closed at $4.29.

Analyst Ratings Changes

Separately, Roth Capital upgraded shares of Ispire Technology to a “strong-buy” rating in a research note on Friday, November 8th.

Ispire Technology Stock Performance

The business has a 50 day moving average of $4.60 and a 200-day moving average of $5.82. The company has a market capitalization of $245.49 million, a P/E ratio of -10.49 and a beta of 2.78.

Ispire Technology (NASDAQ:ISPR) last announced its quarterly earnings results on Friday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.07). Ispire Technology had a negative net margin of 15.46% and a negative return on equity of 73.44%. As a group, equities analysts forecast that Ispire Technology Inc. will post -0.44 EPS for the current fiscal year.

Ispire Technology announced that its board has initiated a stock buyback program on Wednesday, January 22nd that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of Ispire Technology by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 8,976 shares of the company’s stock worth $45,000 after buying an additional 3,060 shares in the last quarter. SG Americas Securities LLC bought a new position in Ispire Technology in the 4th quarter worth about $54,000. MetLife Investment Management LLC raised its holdings in shares of Ispire Technology by 137.6% in the 3rd quarter. MetLife Investment Management LLC now owns 11,764 shares of the company’s stock valued at $73,000 after acquiring an additional 6,812 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Ispire Technology during the 4th quarter valued at about $60,000. Finally, Zacks Investment Management purchased a new position in shares of Ispire Technology during the third quarter worth about $96,000. 5.00% of the stock is owned by institutional investors.

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.