IperionX (NASDAQ:IPX) Sets New 1-Year High - Here's Why

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $40.80 and last traded at $40.41, with a volume of 84896 shares traded. The stock had previously closed at $36.25.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IPX shares. Wall Street Zen raised IperionX from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. B. Riley decreased their target price on IperionX from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd.

IperionX Stock Up 0.4%

The company has a fifty day simple moving average of $28.73 and a 200 day simple moving average of $24.48.

Hedge Funds Weigh In On IperionX

Institutional investors and hedge funds have recently modified their holdings of the stock. Thomist Capital Management LP bought a new stake in shares of IperionX in the 4th quarter worth $32,305,000. Stifel Financial Corp increased its holdings in shares of IperionX by 27.9% in the 4th quarter. Stifel Financial Corp now owns 900,237 shares of the company's stock worth $30,968,000 after purchasing an additional 196,558 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of IperionX by 70.4% in the 1st quarter. Jane Street Group LLC now owns 31,967 shares of the company's stock worth $575,000 after purchasing an additional 13,207 shares in the last quarter. OLD Mission Capital LLC bought a new stake in shares of IperionX in the 1st quarter worth $477,000. Finally, Bank of America Corp DE increased its holdings in shares of IperionX by 15.8% in 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 in the last quarter. 2.76% of the stock is currently owned by institutional investors.

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.