JPMorgan Chase & Co. Has $354,000 Stake in Ispire Technology Inc. (NASDAQ:ISPR)

JPMorgan Chase & Co. raised its stake in Ispire Technology Inc. (NASDAQ:ISPR) by 206.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,375 shares of the company’s stock after purchasing an additional 47,402 shares during the quarter. JPMorgan Chase & Co. owned 0.12% of Ispire Technology worth $354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of ISPR. SG Americas Securities LLC purchased a new stake in Ispire Technology in the 4th quarter valued at about $54,000. Intech Investment Management LLC purchased a new stake in shares of Ispire Technology during the fourth quarter valued at approximately $60,000. Barclays PLC lifted its holdings 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. Bank of New York Mellon Corp increased its holdings 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 buying an additional 7,591 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Ispire Technology by 2.0% in the 3rd quarter. State Street Corp now owns 207,542 shares of the company’s stock worth $1,288,000 after purchasing an additional 4,125 shares during the period. Institutional investors own 5.00% of the company’s stock.

Ispire Technology Stock Performance

Shares of Ispire Technology stock opened at $2.87 on Friday. The stock has a market capitalization of $163.85 million, a P/E ratio of -7.00 and a beta of 3.22. Ispire Technology Inc. has a 52-week low of $2.50 and a 52-week high of $8.40. The stock’s 50-day simple moving average is $3.38 and its 200 day simple moving average is $4.72.

Ispire Technology (NASDAQ:ISPR) last announced its quarterly earnings results on Friday, February 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts forecast that Ispire Technology Inc. will post -0.44 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

Separately, Roth Mkm reissued a “buy” rating and set a $9.00 price objective on shares of Ispire Technology in a 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.