Ispire Technology Inc. (NASDAQ:ISPR) Shares Sold by AdvisorShares Investments LLC

AdvisorShares Investments LLC lowered its stake in Ispire Technology Inc. (NASDAQ:ISPR) by 35.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 103,956 shares of the company’s stock after selling 57,855 shares during the quarter. AdvisorShares Investments LLC owned 0.18% of Ispire Technology worth $523,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew 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 valued at $45,000 after purchasing an additional 3,060 shares during the period. SG Americas Securities LLC purchased a new stake in Ispire Technology during the 4th quarter worth approximately $54,000. Intech Investment Management LLC purchased a new stake in Ispire Technology during the 4th quarter worth approximately $60,000. JPMorgan Chase & Co. lifted its position in shares of Ispire Technology by 104.0% in the third quarter. JPMorgan Chase & Co. now owns 22,973 shares of the company’s stock valued at $143,000 after acquiring an additional 11,714 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Ispire Technology by 10.9% in the fourth quarter. Barclays PLC now owns 30,451 shares of the company’s stock valued at $153,000 after acquiring an additional 2,990 shares in the last quarter. Hedge funds and other institutional investors own 5.00% of the company’s stock.

Ispire Technology Trading Up 3.1 %

NASDAQ:ISPR opened at $2.98 on Tuesday. Ispire Technology Inc. has a twelve month low of $2.50 and a twelve month high of $8.40. The company has a market cap of $170.13 million, a P/E ratio of -7.27 and a beta of 3.22. The company’s 50-day moving average price is $3.50 and its 200-day moving average price is $4.80.

Ispire Technology (NASDAQ:ISPR) last issued its 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 return on equity of 73.44% and a negative net margin of 15.46%. On average, analysts expect that Ispire Technology Inc. will post -0.44 earnings per share for the current year.

Ispire Technology announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 22nd that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the company to buy up to 4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Separately, Roth Mkm reiterated a “buy” rating and set a $9.00 price target on shares of Ispire Technology in a research report on Thursday, March 20th.

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.