IperionX Limited Sponsored ADR (NASDAQ:IPX) Short Interest Down 29.8% in July

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) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totaling 128,200 shares, adeclineof29.8% 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 currently 2.0 days. Currently,0.4% of the shares of the stock are sold short. Currently,0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 63,800 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Trading of IperionX

Several hedge funds and other institutional investors have recently bought and sold shares of IPX. Marshall Wace LLP purchased a new stake in IperionX in the fourth quarter worth approximately $465,000. Stifel Financial Corp boosted its stake in IperionX by 27.9% in the fourth quarter. Stifel Financial Corp now owns 900,237 shares of the company's stock worth $30,968,000 after buying an additional 196,558 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in IperionX in the fourth quarter worth approximately $602,000. Bank of America Corp DE boosted its stake in IperionX by 15.8% in 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 in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in IperionX in the fourth quarter worth approximately $283,000. Hedge funds and other institutional investors own 2.76% of the company's stock.

IperionX Stock Down 6.5%

Shares of IPX stock traded down $2.67 during trading on Wednesday, hitting $38.38. The company had a trading volume of 75,525 shares, compared to its average volume of 69,768. The stock's 50-day moving average is $33.87 and its two-hundred day moving average is $26.01. IperionX has a 52 week low of $12.27 and a 52 week high of $42.38.

Analyst Upgrades and Downgrades

IPX has been the subject of a number of research analyst reports. B. Riley dropped their price target on IperionX from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Roth Capital began coverage on shares of IperionX in a research report on Wednesday. They issued a "buy" rating and a $64.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of IperionX from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $46.00.

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.

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