Geode Capital Management LLC Raises Stock Holdings in Ispire Technology Inc. (NASDAQ:ISPR)

Geode Capital Management LLC increased its stake in shares of Ispire Technology Inc. (NASDAQ:ISPR) by 77.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 452,444 shares of the company’s stock after purchasing an additional 197,132 shares during the period. Geode Capital Management LLC owned approximately 0.80% of Ispire Technology worth $2,808,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its position in 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 purchasing an additional 3,931 shares in the last quarter. State Street Corp grew its position 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 valued at $1,288,000 after buying an additional 4,125 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Ispire Technology by 137.6% during the third quarter. MetLife Investment Management LLC now owns 11,764 shares of the company’s stock worth $73,000 after purchasing an additional 6,812 shares during the last quarter. Zacks Investment Management purchased a new stake in shares of Ispire Technology in the 3rd quarter valued at about $96,000. Finally, AdvisorShares Investments LLC boosted its position in shares of Ispire Technology by 10.0% in the 2nd 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 period. 5.00% of the stock is owned by institutional investors and hedge funds.

Ispire Technology Trading Down 4.8 %

NASDAQ:ISPR opened at $4.74 on Wednesday. The stock’s 50 day simple moving average is $5.87 and its 200-day simple moving average is $6.65. Ispire Technology Inc. has a 12-month low of $4.73 and a 12-month high of $12.56. The firm has a market cap of $268.51 million, a P/E ratio of -13.94 and a beta of 2.92.

Ispire Technology (NASDAQ:ISPR) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). The company had revenue of $39.34 million during the quarter, compared to the consensus estimate of $45.60 million. Ispire Technology had a negative net margin of 12.80% and a negative return on equity of 58.50%. During the same quarter in the prior year, the firm earned ($0.04) EPS. Research analysts forecast that Ispire Technology Inc. will post -0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on ISPR shares. Roth Mkm reiterated a “buy” rating and issued a $12.50 price target on shares of Ispire Technology in a research report on Wednesday, October 2nd. Roth Capital upgraded shares of Ispire Technology to a “strong-buy” rating in a research note on Friday, November 8th.

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.