Roth Mkm Reaffirms Buy Rating for Ispire Technology (NASDAQ:ISPR)

by · The Markets Daily

Roth Mkm restated their buy rating on shares of Ispire Technology (NASDAQ:ISPR – Free Report) in a report published on Wednesday morning, Benzinga reports. Roth Mkm currently has a $12.50 price objective on the stock.

Ispire Technology Stock Performance

ISPR opened at $6.25 on Wednesday. The stock has a market capitalization of $352.51 million, a PE ratio of -26.04 and a beta of 2.84. Ispire Technology has a one year low of $5.01 and a one year high of $19.78. The business’s 50 day moving average price is $7.08 and its 200 day moving average price is $6.88.

Ispire Technology (NASDAQ:ISPR – Get Free Report) last released its quarterly earnings results on Thursday, September 26th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $37.34 million during the quarter, compared to analysts’ expectations of $34.00 million. Ispire Technology had a negative return on equity of 34.23% and a negative net margin of 8.79%. As a group, equities research analysts forecast that Ispire Technology will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ispire Technology

A number of institutional investors and hedge funds have recently made changes to their positions in ISPR. AdvisorShares Investments LLC increased its stake in Ispire Technology by 10.0% during the second quarter. AdvisorShares Investments LLC now owns 175,858 shares of the company’s stock worth $1,361,000 after purchasing an additional 16,000 shares during the period. Yong Rong HK Asset Management Ltd raised its stake in Ispire Technology by 94.2% in the second quarter. Yong Rong HK Asset Management Ltd now owns 1,669,515 shares of the company’s stock valued at $13,357,000 after buying an additional 809,819 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Ispire Technology by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 46,119 shares of the company’s stock worth $369,000 after buying an additional 3,931 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Ispire Technology during the 1st quarter worth about $196,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ispire Technology by 62.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,273 shares of the company’s stock worth $382,000 after acquiring an additional 24,017 shares in the last quarter. 5.00% of the stock is owned by hedge funds and other institutional investors.

Ispire Technology Company Profile

(Get Free Report)

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.

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