IperionX (NASDAQ:IPX) Sets New 52-Week High - Still a Buy?

Key Points

• IperionX (NASDAQ:IPX) shares reached a new 52-week high at $42.40, reflecting strong trading activity with a last recorded price of $41.64.
• Analyst ratings indicate mixed sentiments, with B. Riley lowering its target price from $30.00 to $28.00 while maintaining a "buy" rating, and Wall Street Zen upgrading the stock from "sell" to "hold."
• Hedge funds are actively managing their positions in IperionX, with significant increases in stakes by firms such as GAMMA Investing LLC, which raised its stake by 684.4% in the 2nd quarter.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) shares reached a new 52-week high during trading on Friday . The company traded as high as $42.40 and last traded at $41.64, with a volume of 452 shares trading hands. The stock had previously closed at $39.82.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IPX shares. B. Riley dropped their target price on shares of 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 upgraded shares of IperionX from a "sell" rating to a "hold" rating in a report on Friday, June 6th.

IperionX Stock Up 3.5%

The firm's 50 day simple moving average is $33.06 and its 200 day simple moving average is $25.66.

Hedge Funds Weigh In On IperionX

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of IperionX by 684.4% in the 2nd quarter. GAMMA Investing LLC now owns 957 shares of the company's stock worth $30,000 after purchasing an additional 835 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of IperionX in the 2nd quarter worth approximately $66,000. Bank of America Corp DE lifted its position in shares of IperionX by 15.8% in the 4th quarter. Bank of America Corp DE now owns 24,193 shares of the company's stock worth $832,000 after purchasing an additional 3,293 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in shares of IperionX in the 2nd quarter worth approximately $220,000. Finally, Citadel Advisors LLC purchased a new stake in shares of IperionX in the 4th quarter worth approximately $283,000. 2.76% of the stock is currently owned by institutional investors.

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.

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