IperionX (NASDAQ:IPX) Upgraded to "Hold" at Wall Street Zen

Key Points

• IperionX was recently upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment toward the stock.
• Roth Capital has initiated coverage on IperionX with a "buy" rating and a target price of $64.00, while the consensus target price stands at $46.00.
• The company's shares have recently seen a 4.5% decline, with a trading range between a 12-month low of $12.27 and a high of $49.46.

Wall Street Zen upgraded shares of IperionX (NASDAQ:IPX - Free Report) from a sell rating to a hold rating in a research note published on Saturday morning.

Separately, Roth Capital began coverage on IperionX in a research report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, IperionX presently has an average rating of "Buy" and a consensus target price of $46.00.

IperionX Stock Up 2.9%

Shares of IperionX stock traded up $1.28 on Friday, reaching $45.78. The company's stock had a trading volume of 3,432 shares, compared to its average volume of 76,125. IperionX has a 52-week low of $12.27 and a 52-week high of $49.46. The stock has a 50-day moving average price of $41.33 and a 200-day moving average price of $29.23.

Institutional Investors Weigh In On IperionX

Institutional investors and hedge funds have recently modified their holdings of the company. 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 buying an additional 1,816 shares during the period. Bank of America Corp DE raised 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 valued at $832,000 after buying an additional 3,293 shares during the period. Citadel Advisors LLC purchased a new stake in shares of IperionX in the 4th quarter valued at $283,000. OLD Mission Capital LLC purchased a new stake in shares of IperionX in the 1st quarter valued at $477,000. Finally, Jane Street Group LLC raised its holdings in shares of IperionX by 73.8% in the 2nd quarter. Jane Street Group LLC now owns 55,558 shares of the company's stock valued at $1,750,000 after buying an additional 23,591 shares during the period. Hedge funds and other institutional investors 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.