State Street Corp Acquires 4,125 Shares of Ispire Technology Inc. (NASDAQ:ISPR)

State Street Corp lifted its holdings in Ispire Technology Inc. (NASDAQ:ISPR) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 207,542 shares of the company’s stock after purchasing an additional 4,125 shares during the period. State Street Corp owned 0.37% of Ispire Technology worth $1,288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. AdvisorShares Investments LLC lifted its position in shares of Ispire Technology by 10.0% in the second quarter. AdvisorShares Investments LLC now owns 175,858 shares of the company’s stock worth $1,361,000 after buying an additional 16,000 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Ispire Technology by 137.6% in the 3rd quarter. MetLife Investment Management LLC now owns 11,764 shares of the company’s stock valued at $73,000 after acquiring an additional 6,812 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Ispire Technology by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 46,119 shares of the company’s stock valued at $369,000 after acquiring an additional 3,931 shares in the last quarter. Institutional investors and hedge funds own 5.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ISPR shares. Roth Mkm reiterated a “buy” rating and set a $12.50 price target on shares of Ispire Technology in a report on Wednesday, October 2nd. Roth Capital raised shares of Ispire Technology to a “strong-buy” rating in a report on Friday, November 8th.

Ispire Technology Stock Performance

Ispire Technology stock opened at $4.91 on Friday. Ispire Technology Inc. has a 52 week low of $4.90 and a 52 week high of $12.86. The firm has a market capitalization of $278.14 million, a PE ratio of -14.44 and a beta of 2.84. The business’s 50-day simple moving average is $5.97 and its 200-day simple moving average is $6.72.

Ispire Technology (NASDAQ:ISPR) last released its earnings results on Monday, November 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). Ispire Technology had a negative return on equity of 58.50% and a negative net margin of 12.80%. The firm had revenue of $39.34 million for the quarter, compared to analyst estimates of $45.60 million. During the same quarter last year, the firm posted ($0.04) EPS. Research analysts forecast that Ispire Technology Inc. will post -0.24 earnings per share for the current year.

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.