Short Interest in IperionX Limited Sponsored ADR (NASDAQ:IPX) Drops By 29.8%

Key Points

• The short interest for IperionX Limited (NASDAQ:IPX) decreased by 29.8% in July, falling to 128,200 shares from 182,700 shares.
• Shares of IperionX traded down 6.5% to $38.38 amid a trading volume of 75,525 shares.
• Several institutional investors have recently increased their stakes in IperionX, with Stifel Financial Corp boosting its ownership by 27.9% in the fourth quarter.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 128,200 shares, adecreaseof29.8% from the July 15th total of 182,700 shares. Based on an average daily trading volume, of 63,800 shares, the days-to-cover ratio is presently 2.0 days. Approximately0.4% of the company's shares are short sold. Approximately0.4% of the company's shares are short sold. Based on an average daily trading volume, of 63,800 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Investors Weigh In On IperionX

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of IperionX by 684.4% during the 2nd quarter. GAMMA Investing LLC now owns 957 shares of the company's stock worth $30,000 after purchasing an additional 835 shares during the period. Cape Investment Advisory Inc. purchased a new stake in shares of IperionX during the 2nd quarter valued at $34,000. JPMorgan Chase & Co. purchased a new stake in shares of IperionX during the 2nd quarter valued at $66,000. Atlantic Union Bankshares Corp bought a new stake in IperionX in the second quarter worth $220,000. Finally, Citadel Advisors LLC bought a new stake in IperionX in the 4th quarter worth $283,000. 2.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IPX shares. Wall Street Zen upgraded IperionX from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Roth Capital assumed coverage on shares of IperionX in a report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price target for the company. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $46.00.

IperionX Stock Up 6.8%

Shares of IPX stock traded up $2.85 during trading hours on Monday, reaching $44.69. The company had a trading volume of 194,838 shares, compared to its average volume of 71,168. IperionX has a 12 month low of $12.27 and a 12 month high of $45.00. The business has a fifty day simple moving average of $34.69 and a 200-day simple moving average of $26.31.

About IperionX

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.