AdvisorShares Investments LLC Lowers Stock Holdings in Ispire Technology Inc. (NASDAQ:ISPR)

AdvisorShares Investments LLC reduced its position in Ispire Technology Inc. (NASDAQ:ISPR) by 35.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,956 shares of the company’s stock after selling 57,855 shares during the quarter. AdvisorShares Investments LLC’s holdings in Ispire Technology were worth $523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wells Fargo & Company MN increased its stake in Ispire Technology by 51.7% during 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 during the period. SG Americas Securities LLC purchased a new position in Ispire Technology in the fourth quarter valued at $54,000. Intech Investment Management LLC acquired a new position in Ispire Technology during the 4th quarter worth $60,000. JPMorgan Chase & Co. increased its holdings in Ispire Technology by 104.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,973 shares of the company’s stock worth $143,000 after purchasing an additional 11,714 shares during the period. Finally, Barclays PLC raised its position in Ispire Technology by 10.9% in the 4th quarter. Barclays PLC now owns 30,451 shares of the company’s stock valued at $153,000 after purchasing an additional 2,990 shares in the last quarter. 5.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reissued a “buy” rating and set a $9.00 price objective on shares of Ispire Technology in a research report on Thursday, March 20th.

Ispire Technology Price Performance

Ispire Technology stock opened at $2.98 on Tuesday. Ispire Technology Inc. has a 1-year low of $2.50 and a 1-year high of $8.40. The stock has a market cap of $170.13 million, a PE ratio of -7.27 and a beta of 3.22. The stock’s fifty day moving average is $3.50 and its two-hundred day moving average is $4.80.

Ispire Technology (NASDAQ:ISPR) last announced its quarterly earnings results on Friday, February 7th. The company reported ($0.14) 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%. On average, research analysts expect that Ispire Technology Inc. will post -0.44 earnings per share for the current fiscal year.

Ispire Technology declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 22nd that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.