IperionX (NASDAQ:IPX) Sets New 52-Week High - Here's What Happened

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.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) hit a new 52-week high on Tuesday . The stock 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

Several research analysts have commented on the company. B. Riley cut their price target on IperionX from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen raised IperionX from a "sell" rating to a "hold" rating in a report on Friday, June 6th.

IperionX Stock Up 2.4%

The business has a fifty day moving average of $30.74 and a 200 day moving average of $24.92.

Institutional Trading of IperionX

Several hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in IperionX in the 4th quarter valued at approximately $465,000. Stifel Financial Corp increased its position in shares of IperionX by 27.9% during the 4th quarter. Stifel Financial Corp now owns 900,237 shares of the company's stock valued at $30,968,000 after purchasing an additional 196,558 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of IperionX during the 4th quarter valued at $602,000. Bank of America Corp DE increased its position in shares of IperionX by 15.8% during the 4th 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. Finally, Citadel Advisors LLC acquired a new position in shares of IperionX during the 4th quarter valued at $283,000. Institutional investors own 2.76% of the company's stock.

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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