Philadelphia Financial Management of San Francisco LLC Decreases Holdings in IperionX Limited Sponsored ADR $IPX

Key Points

• Philadelphia Financial Management has reduced its holdings in IperionX Limited Sponsored ADR by 11.8%, now owning approximately 442,659 shares worth about $7.96 million.
• Recent analyst reports show an encouraging shift in sentiment, with Wall Street Zen upgrading IperionX from a "sell" to a "hold" rating, while Roth Capital issued a "buy" rating with a target price of $64.00.
• IperionX aims to lead in low carbon, sustainable material supply chains for advanced industries, boasting breakthrough technologies in titanium production that meet high sustainability standards.

Philadelphia Financial Management of San Francisco LLC lessened its position in shares of IperionX Limited Sponsored ADR (NASDAQ:IPX - Free Report) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 442,659 shares of the company's stock after selling 59,449 shares during the quarter. IperionX comprises 1.6% of Philadelphia Financial Management of San Francisco LLC's holdings, making the stock its 27th biggest position. Philadelphia Financial Management of San Francisco LLC owned 1.39% of IperionX worth $7,963,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of IperionX by 479.2% during the 1st quarter. GAMMA Investing LLC now owns 2,195 shares of the company's stock worth $39,000 after acquiring an additional 1,816 shares in the last quarter. Citadel Advisors LLC acquired a new position in IperionX during the 4th quarter valued at approximately $283,000. OLD Mission Capital LLC acquired a new position in IperionX during the 1st quarter valued at approximately $477,000. Mercer Global Advisors Inc. ADV acquired a new position in IperionX during the 4th quarter valued at approximately $602,000. Finally, Bank of America Corp DE increased its stake in IperionX by 15.8% during the 4th quarter. Bank of America Corp DE now owns 24,193 shares of the company's stock valued at $832,000 after purchasing an additional 3,293 shares in the last quarter. Institutional investors own 2.76% of the company's stock.

IperionX Stock Performance

NASDAQ IPX traded down $0.50 during mid-day trading on Thursday, reaching $43.35. 41,882 shares of the stock were exchanged, compared to its average volume of 70,869. The business's 50 day moving average is $39.01 and its 200-day moving average is $27.97. IperionX Limited Sponsored ADR has a 1 year low of $12.27 and a 1 year high of $49.46.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of IperionX from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Roth Capital began coverage on shares of IperionX in a research note on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, IperionX presently has an average rating of "Buy" and a consensus target price of $46.00.

IperionX Company Profile

IperionX's mission is to be the leading developer of low carbon, sustainable, critical material supply chains focused on advanced industries including space, aerospace, electric vehicles and 3D printing. IperionX's breakthrough titanium technologies have demonstrated the potential to produce titanium products that are sustainable, 100% recyclable, have low carbon intensity and to do so at product qualities that meet or exceed current industry standards.