10,833 Shares in Ispire Technology Inc. (NASDAQ:ISPR) Acquired by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in Ispire Technology Inc. (NASDAQ:ISPR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,833 shares of the company’s stock, valued at approximately $54,000.

Several other hedge funds also recently bought and sold shares of ISPR. MetLife Investment Management LLC grew its position in 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 during the last quarter. Zacks Investment Management bought a new position in Ispire Technology in the 3rd quarter valued at $96,000. JPMorgan Chase & Co. grew its position in Ispire Technology by 104.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,973 shares of the company’s stock valued at $143,000 after acquiring an additional 11,714 shares during the last quarter. Barclays PLC grew its position in Ispire Technology by 311.2% in the 3rd quarter. Barclays PLC now owns 27,461 shares of the company’s stock valued at $171,000 after acquiring an additional 20,782 shares during the last quarter. Finally, State Street Corp grew its position in 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 acquiring an additional 4,125 shares during the last quarter. Institutional investors own 5.00% of the company’s stock.

Ispire Technology Trading Up 2.4 %

Shares of ISPR stock opened at $4.35 on Friday. Ispire Technology Inc. has a twelve month low of $4.15 and a twelve month high of $12.14. The stock has a market capitalization of $246.43 million, a price-to-earnings ratio of -12.79 and a beta of 2.90. The stock has a fifty day simple moving average of $5.03 and a two-hundred day simple moving average of $6.11.

Ispire Technology (NASDAQ:ISPR) last issued its earnings results on Friday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.07). Ispire Technology had a negative return on equity of 58.50% and a negative net margin of 12.80%. Research analysts predict that Ispire Technology Inc. will post -0.33 EPS for the current fiscal year.

Ispire Technology announced that its Board of Directors has authorized a share repurchase program on Wednesday, January 22nd that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Roth Capital raised Ispire Technology to a “strong-buy” rating in a research report on Friday, November 8th.

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.