Ispire Technology Inc. (NASDAQ:ISPR) Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of Ispire Technology Inc. (NASDAQ:ISPR) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 465,841 shares of the company’s stock after purchasing an additional 13,397 shares during the period. Geode Capital Management LLC owned about 0.82% of Ispire Technology worth $2,344,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Ispire Technology by 206.3% during the fourth quarter. JPMorgan Chase & Co. now owns 70,375 shares of the company’s stock worth $354,000 after purchasing an additional 47,402 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Ispire Technology during the fourth quarter worth about $60,000. Bank of New York Mellon Corp raised its stake in Ispire Technology by 15.7% during the fourth quarter. Bank of New York Mellon Corp now owns 56,090 shares of the company’s stock worth $282,000 after acquiring an additional 7,591 shares during the period. SG Americas Securities LLC acquired a new stake in Ispire Technology during the fourth quarter worth about $54,000. Finally, Barclays PLC raised its stake in Ispire Technology by 311.2% during the third quarter. Barclays PLC now owns 27,461 shares of the company’s stock worth $171,000 after acquiring an additional 20,782 shares during the period. Institutional investors own 5.00% of the company’s stock.

Ispire Technology Trading Up 3.1 %

Shares of NASDAQ:ISPR opened at $2.98 on Tuesday. The firm’s 50 day moving average is $3.50 and its two-hundred day moving average is $4.80. Ispire Technology Inc. has a 52 week low of $2.50 and a 52 week high of $8.40. The firm has a market capitalization of $170.13 million, a P/E ratio of -7.27 and a beta of 3.22.

Ispire Technology (NASDAQ:ISPR) last announced its quarterly earnings results on Friday, February 7th. The company reported ($0.14) EPS 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%. Analysts predict that Ispire Technology Inc. will post -0.44 EPS for the current year.

Ispire Technology declared that its board has approved a share buyback plan on Wednesday, January 22nd that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

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

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.