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

Ispire Technology Inc. (NASDAQ:ISPR) shares 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 changed 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 Performance

The firm has a 50-day moving average price of $4.58 and a 200-day moving average price of $5.79. The stock has a market cap of $245.49 million, a PE ratio of -10.49 and a beta of 2.78.

Ispire Technology (NASDAQ:ISPR) last posted its quarterly earnings results on Friday, February 7th. The company reported ($0.14) earnings per share (EPS) 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%. As a group, sell-side analysts anticipate that Ispire Technology Inc. will post -0.44 EPS for the current fiscal year.

Ispire Technology announced that its board has approved a stock repurchase program on Wednesday, January 22nd that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the company to purchase up to 4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Ispire Technology

Several large investors have recently bought and sold shares of ISPR. Wells Fargo & Company MN increased its holdings in Ispire Technology by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 8,976 shares of the company’s stock worth $45,000 after buying an additional 3,060 shares in the last quarter. SG Americas Securities LLC bought a new stake in Ispire Technology in the 4th quarter worth about $54,000. Intech Investment Management LLC bought a new stake in Ispire Technology in the 4th quarter worth about $60,000. MetLife Investment Management LLC increased its holdings in Ispire Technology by 137.6% in the 3rd quarter. MetLife Investment Management LLC now owns 11,764 shares of the company’s stock worth $73,000 after buying an additional 6,812 shares in the last quarter. Finally, Zacks Investment Management bought a new stake in Ispire Technology in the 3rd quarter worth about $96,000. 5.00% of the stock is currently owned by institutional investors.

About Ispire Technology

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.