Philadelphia Financial Management of San Francisco LLC Cuts Stock Position 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 first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 442,659 shares of the company's stock after selling 59,449 shares during the period. IperionX makes up about 1.6% of Philadelphia Financial Management of San Francisco LLC's portfolio, making the stock its 27th largest holding. Philadelphia Financial Management of San Francisco LLC owned approximately 1.39% of IperionX worth $7,963,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IPX. GAMMA Investing LLC lifted its position 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 buying an additional 1,816 shares during the last quarter. Citadel Advisors LLC acquired a new position in IperionX during the 4th quarter worth approximately $283,000. OLD Mission Capital LLC bought a new position in IperionX in the 1st quarter valued at approximately $477,000. Mercer Global Advisors Inc. ADV acquired a new stake in IperionX in the fourth quarter valued at approximately $602,000. Finally, Bank of America Corp DE grew its stake in shares of IperionX by 15.8% during the fourth quarter. Bank of America Corp DE now owns 24,193 shares of the company's stock worth $832,000 after buying an additional 3,293 shares during the last quarter. 2.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen raised IperionX from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Roth Capital began coverage on IperionX in a report on Wednesday, August 20th. They set a "buy" rating and a $64.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, IperionX has an average rating of "Buy" and a consensus price target of $46.00.

IperionX Stock Down 9.9%

NASDAQ IPX traded down $4.78 during trading hours on Tuesday, hitting $43.69. The company had a trading volume of 109,493 shares, compared to its average volume of 66,872. The firm has a 50 day simple moving average of $38.73 and a 200 day simple moving average of $27.86. IperionX Limited Sponsored ADR has a 52 week low of $12.27 and a 52 week high of $49.46.

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.