IperionX (NASDAQ:IPX) Reaches New 12-Month High - Here's What Happened

Key Points

• IperionX Limited's shares reached a new 12-month high of $52.58, closing at $51.56 after a significant trading volume of 90,147 shares.
• Analysts have upgraded IperionX's rating from "sell" to "hold," with a current consensus rating of "Buy" and a price target averaging around $51.00 to $74.00.
• Institutional investments in IperionX are increasing, with notable transactions including Thomist Capital purchasing a position worth approximately $59 million and Jane Street Group increasing its stake by 73.8%.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $52.58 and last traded at $51.56, with a volume of 90147 shares changing hands. The stock had previously closed at $49.35.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded IperionX from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. Roth Capital reiterated a "buy" rating and set a $74.00 price target (up from $64.00) on shares of IperionX in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $51.00.

IperionX Price Performance

The company's 50-day moving average is $43.43 and its two-hundred day moving average is $30.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Thomist Capital Management LP bought a new position in shares of IperionX in the second quarter worth approximately $59,384,000. Osaic Holdings Inc. boosted its stake in IperionX by 7.7% in the second quarter. Osaic Holdings Inc. now owns 70,325 shares of the company's stock worth $2,215,000 after buying an additional 5,000 shares in the last quarter. Jane Street Group LLC boosted its stake in IperionX by 73.8% in the second quarter. Jane Street Group LLC now owns 55,558 shares of the company's stock worth $1,750,000 after buying an additional 23,591 shares in the last quarter. Bank of America Corp DE boosted its stake in IperionX by 69.0% in the second quarter. Bank of America Corp DE now owns 35,441 shares of the company's stock worth $1,116,000 after buying an additional 14,467 shares in the last quarter. Finally, OLD Mission Capital LLC purchased a new stake in IperionX in the first quarter worth approximately $477,000. 2.76% of the stock is currently 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.

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