Charles Schwab Investment Management Inc. Trims Stake in Ispire Technology Inc. (NASDAQ:ISPR)

Charles Schwab Investment Management Inc. lowered its holdings in Ispire Technology Inc. (NASDAQ:ISPR) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,503 shares of the company’s stock after selling 2,500 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.08% of Ispire Technology worth $289,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ISPR. Bank of New York Mellon Corp increased its position in shares of Ispire Technology by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 46,119 shares of the company’s stock worth $369,000 after purchasing an additional 3,931 shares during the last quarter. AdvisorShares Investments LLC lifted its position in Ispire Technology by 10.0% during the second quarter. AdvisorShares Investments LLC now owns 175,858 shares of the company’s stock valued at $1,361,000 after purchasing an additional 16,000 shares during the last quarter. Finally, Yong Rong HK Asset Management Ltd grew its stake in Ispire Technology by 94.2% in the 2nd quarter. Yong Rong HK Asset Management Ltd now owns 1,669,515 shares of the company’s stock worth $13,357,000 after buying an additional 809,819 shares in the last quarter. Hedge funds and other institutional investors own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

ISPR has been the topic of several research reports. Roth Capital upgraded shares of Ispire Technology to a “strong-buy” rating in a research report on Friday, November 8th. Roth Mkm reissued a “buy” rating and issued a $12.50 target price on shares of Ispire Technology in a research note on Wednesday, October 2nd.

Ispire Technology Price Performance

Shares of ISPR opened at $5.35 on Friday. The firm has a market cap of $303.06 million, a P/E ratio of -15.74 and a beta of 2.84. The stock has a 50 day simple moving average of $6.17 and a two-hundred day simple moving average of $6.82. Ispire Technology Inc. has a 1 year low of $5.01 and a 1 year high of $13.87.

Ispire Technology (NASDAQ:ISPR) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). Ispire Technology had a negative net margin of 12.80% and a negative return on equity of 58.50%. The firm had revenue of $39.34 million during the quarter, compared to analyst estimates of $45.60 million. During the same period in the previous year, the business posted ($0.04) EPS. On average, equities analysts anticipate that Ispire Technology Inc. will post -0.24 earnings per share for the current year.

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.