Bank of New York Mellon Corp Boosts Position in Ispire Technology Inc. (NASDAQ:ISPR)

Bank of New York Mellon Corp grew its stake in Ispire Technology Inc. (NASDAQ:ISPR) by 9.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,119 shares of the company’s stock after purchasing an additional 3,931 shares during the period. Bank of New York Mellon Corp owned about 0.08% of Ispire Technology worth $369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Tidal Investments LLC acquired a new stake in shares of Ispire Technology in the first quarter worth approximately $196,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ispire Technology by 62.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,273 shares of the company’s stock valued at $382,000 after purchasing an additional 24,017 shares during the period. Finally, AdvisorShares Investments LLC purchased a new stake in shares of Ispire Technology during the fourth quarter worth $969,000. Hedge funds and other institutional investors own 5.00% of the company’s stock.

Ispire Technology Stock Performance

ISPR opened at $5.82 on Thursday. The business’s 50-day simple moving average is $7.16 and its 200-day simple moving average is $7.00. The stock has a market capitalization of $328.25 million, a P/E ratio of -24.25 and a beta of 2.84. Ispire Technology Inc. has a one year low of $5.01 and a one year high of $19.78.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reiterated a “buy” rating and issued a $12.50 price target (up previously from $11.00) on shares of Ispire Technology in a research note on Monday, July 22nd.

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.