IperionX (NASDAQ:IPX) Raised 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 report released on Saturday.

Separately, Roth Capital started coverage on shares of IperionX in a report on Wednesday, August 20th. They set a "buy" rating and a $64.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $46.00.

IperionX Stock Up 4.7%

IPX traded up $1.99 during midday trading on Friday, reaching $44.08. 70,294 shares of the company's stock were exchanged, compared to its average volume of 76,236. The business has a 50-day simple moving average of $41.08 and a two-hundred day simple moving average of $29.06. IperionX has a one year low of $12.27 and a one year high of $49.46.

Institutional Trading of IperionX

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPX. Bank of America Corp DE boosted its stake in shares of IperionX by 15.8% in the fourth 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 bought a new stake in shares of IperionX during the 4th quarter worth approximately $283,000. GAMMA Investing LLC increased its stake in IperionX by 479.2% in the first quarter. GAMMA Investing LLC now owns 2,195 shares of the company's stock valued at $39,000 after acquiring an additional 1,816 shares during the last quarter. OLD Mission Capital LLC acquired a new position in IperionX in the first quarter valued at $477,000. Finally, Jane Street Group LLC increased its holdings in IperionX by 70.4% in the first 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. 2.76% of the stock is owned by 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.