IperionX (NASDAQ:IPX) Sees Large Volume Increase - Here's What Happened

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) saw strong trading volume on Monday . 51,509 shares traded hands during mid-day trading, an increase of 0% from the previous session's volume of 51,471 shares.The stock last traded at $29.74 and had previously closed at $25.96.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of IperionX from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. B. Riley dropped their price target on shares of IperionX from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd.

IperionX Price Performance

The firm's 50-day simple moving average is $22.89 and its 200 day simple moving average is $24.41.

Institutional Trading of IperionX

Several hedge funds have recently added to or reduced their stakes in the stock. Thomist Capital Management LP bought a new stake in IperionX in the fourth quarter worth about $32,305,000. Stifel Financial Corp raised its position in IperionX by 27.9% in the fourth quarter. Stifel Financial Corp now owns 900,237 shares of the company's stock worth $30,968,000 after acquiring an additional 196,558 shares during the period. Sowell Financial Services LLC bought a new stake in IperionX in the fourth quarter worth about $1,597,000. Jane Street Group LLC raised its position 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 acquiring an additional 13,207 shares during the period. Finally, OLD Mission Capital LLC bought a new stake in IperionX in the first quarter worth about $477,000. 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.