IperionX Limited Sponsored ADR (NASDAQ:IPX) Short Interest Update

Key Points

• IperionX Limited's short interest dropped by 26.9% in September, totaling 101,400 shares as of September 15th.
• The stock received mixed analyst ratings, with Roth Capital upgrading its price target to $74.00 while Wall Street Zen downgraded it to a sell rating.
• Institutional investors have increased their involvement, with GAMMA Investing LLC raising its stake by 684.4% in the second quarter of 2023.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totaling 101,400 shares, a drop of 26.9% from the August 31st total of 138,700 shares. Based on an average daily volume of 83,300 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily volume of 83,300 shares, the days-to-cover ratio is presently 1.2 days.

IperionX Stock Up 0.4%

Shares of IperionX stock opened at $55.40 on Tuesday. The business has a fifty day simple moving average of $44.28 and a two-hundred day simple moving average of $31.36. IperionX has a 1 year low of $12.27 and a 1 year high of $56.78.

Analyst Ratings Changes

IPX has been the subject of several recent analyst reports. Roth Capital reissued a "buy" rating and issued a $74.00 price objective (up previously from $64.00) on shares of IperionX in a report on Wednesday, October 1st. Wall Street Zen lowered shares of IperionX from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of IperionX in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $51.00.

Institutional Trading of IperionX

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in IperionX by 684.4% in the 2nd quarter. GAMMA Investing LLC now owns 957 shares of the company's stock valued at $30,000 after buying an additional 835 shares during the last quarter. Cape Investment Advisory Inc. bought a new position in shares of IperionX during the second quarter worth approximately $34,000. JPMorgan Chase & Co. bought a new position in shares of IperionX during the second quarter worth approximately $66,000. Atlantic Union Bankshares Corp acquired a new stake in IperionX during the 2nd quarter worth approximately $220,000. Finally, OLD Mission Capital LLC bought a new stake in IperionX in the 1st quarter valued at $477,000. Institutional investors and hedge funds own 2.76% of the company's stock.

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.

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