IperionX (NASDAQ:IPX) Sets New 1-Year High - Time to Buy?

Key Points

• IperionX (NASDAQ:IPX) reached a new 52-week high of $41.25, closing at $41.00 with a trading volume of 68,298 shares.
• Analysts have mixed views on IperionX, with B. Riley lowering its price target to $28.00 but maintaining a "buy" rating, while Wall Street Zen upgraded its rating from "sell" to "hold."
• Institutional investors have shown significant interest in IperionX, with several hedge funds increasing their stakes during the 4th quarter, resulting in institutional ownership of 2.76% of the company's stock.

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $41.25 and last traded at $41.00, with a volume of 68298 shares traded. The stock had previously closed at $40.05.

Analyst Ratings Changes

IPX has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of IperionX from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. B. Riley decreased their target price on shares of IperionX from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd.

IperionX Stock Down 1.8%

The stock's fifty day simple moving average is $31.94 and its 200-day simple moving average is $25.28.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Atlantic Union Bankshares Corp purchased a new position in shares of IperionX during the second quarter worth $220,000. GAMMA Investing LLC raised its holdings in shares of IperionX by 684.4% during the second quarter. GAMMA Investing LLC now owns 957 shares of the company's stock worth $30,000 after purchasing an additional 835 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of 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 purchasing an additional 13,207 shares during the last quarter. OLD Mission Capital LLC purchased a new position in shares of IperionX during the first quarter worth $477,000. Finally, Thomist Capital Management LP purchased a new position in shares of IperionX during the fourth quarter worth $32,305,000. 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.