IperionX (NASDAQ:IPX) Lowered to Sell Rating by Wall Street Zen

Key Points

• IperionX (NASDAQ:IPX) has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen.
• Roth Capital maintained a "buy" rating with an increased price target of $74.00, contrasting with the consensus price target of $51.00 among analysts.
• Recently, hedge funds have increased their investments in IperionX, with GAMMA Investing LLC boosting its position by 684.4% in the second quarter.

IperionX (NASDAQ:IPX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Friday.

IPX has been the topic of several other reports. Roth Capital restated a "buy" rating and set a $74.00 price target (up from $64.00) on shares of IperionX in a research report on Wednesday. Weiss Ratings restated a "sell (e+)" rating on shares of IperionX in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, IperionX currently has a consensus rating of "Hold" and a consensus price target of $51.00.

IperionX Stock Performance

Shares of NASDAQ IPX traded up $1.61 during trading hours on Friday, reaching $55.19. 111,791 shares of the stock traded hands, compared to its average volume of 130,591. The company's 50-day simple moving average is $43.98 and its two-hundred day simple moving average is $30.96. IperionX has a 52-week low of $12.27 and a 52-week high of $56.78.

Hedge Funds Weigh In On IperionX

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of IperionX by 684.4% during the second quarter. GAMMA Investing LLC now owns 957 shares of the company's stock valued at $30,000 after purchasing an additional 835 shares in the last quarter. Cape Investment Advisory Inc. bought a new stake in shares of IperionX during the second quarter valued at approximately $34,000. JPMorgan Chase & Co. bought a new stake in shares of IperionX during the second quarter valued at approximately $66,000. Atlantic Union Bankshares Corp bought a new stake in shares of IperionX during the second quarter valued at approximately $220,000. Finally, Citadel Advisors LLC bought a new stake in shares of IperionX during the fourth quarter valued at approximately $283,000. 2.76% of the stock is owned by hedge funds and other 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.

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