IperionX (NASDAQ:IPX) Sees Unusually-High Trading Volume - Here's Why

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 49,647 shares were traded during trading, a decline of 9% from the previous session's volume of 54,664 shares.The stock last traded at $33.31 and had previously closed at $30.93.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IPX. B. Riley decreased their price target on IperionX from $30.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wall Street Zen raised shares of IperionX from a "sell" rating to a "hold" rating in a report on Friday, June 6th.

IperionX Price Performance

The business's 50-day simple moving average is $26.01 and its two-hundred day simple moving average is $24.41.

Hedge Funds Weigh In On IperionX

A number of large investors have recently bought and sold shares of IPX. Thomist Capital Management LP purchased a new stake in shares of IperionX in the fourth quarter valued at approximately $32,305,000. Stifel Financial Corp raised its position in IperionX by 27.9% during 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. Jane Street Group LLC raised its position in IperionX by 70.4% during 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. OLD Mission Capital LLC acquired a new stake in shares of IperionX in the first quarter valued at about $477,000. Finally, Bank of America Corp DE grew its position 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 purchasing an additional 3,293 shares during the period. Institutional investors and hedge funds 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.