IperionX (NASDAQ:IPX) Hits New 12-Month High - Time to Buy?

Key Points

• IperionX Limited (NASDAQ:IPX) reached a new 52-week high of $48.17, closing at $47.98 with a trading volume of 36,132 shares.
• Analysts have rated the stock with a consensus of "Buy," with Roth Capital setting a target price of $64.00.
• Institutional investors have increased their positions in IperionX, with Thomist Capital Management LP purchasing a new position valued at approximately $32.3 million.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $48.17 and last traded at $47.98, with a volume of 36132 shares changing hands. The stock had previously closed at $46.00.

Analyst Ratings Changes

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

IperionX Stock Up 3.0%

The stock has a fifty day moving average of $37.04 and a 200-day moving average of $27.21.

Institutional Trading of IperionX

Large investors have recently made changes to their positions in the company. Thomist Capital Management LP purchased a new position in IperionX in the fourth quarter worth approximately $32,305,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of IperionX in the 4th quarter valued at $602,000. GAMMA Investing LLC raised its holdings in shares of IperionX by 479.2% in the 1st quarter. GAMMA Investing LLC now owns 2,195 shares of the company's stock valued at $39,000 after purchasing an additional 1,816 shares in the last quarter. Bank of America Corp DE lifted its position in shares of IperionX by 15.8% during the 4th quarter. Bank of America Corp DE now owns 24,193 shares of the company's stock worth $832,000 after purchasing an additional 3,293 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of IperionX during the fourth quarter worth $283,000. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

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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