Ispire Technology (NASDAQ:ISPR) Stock Price Up 0.2% – Should You Buy?

Ispire Technology Inc. (NASDAQ:ISPR)’s share price rose 0.2% during mid-day trading on Friday . The stock traded as high as $4.50 and last traded at $4.30. Approximately 24,442 shares traded 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.

Ispire Technology Stock Up 0.2 %

The stock has a market cap of $245.49 million, a P/E ratio of -10.49 and a beta of 2.78. The firm’s fifty day moving average price is $4.58 and its 200-day moving average price is $5.79.

Ispire Technology (NASDAQ:ISPR) last released 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%. Sell-side analysts predict that Ispire Technology Inc. will post -0.44 earnings per share for the current year.

Ispire Technology announced that its board has authorized a stock repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Ispire Technology

Several large investors have recently added to or reduced their stakes in ISPR. MetLife Investment Management LLC boosted its holdings in Ispire Technology by 137.6% in the third 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. State Street Corp lifted its position in 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 period. Zacks Investment Management purchased a new position in Ispire Technology during the third quarter valued at $96,000. Barclays PLC lifted its position in 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 period. Finally, Geode Capital Management LLC lifted its position in 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 period. Institutional investors own 5.00% of the company’s stock.

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.