IperionX (NASDAQ:IPX) Reaches New 1-Year High - What's Next?

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.

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) hit a new 52-week high on Friday . The stock 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 Ratings Changes

IPX has been the subject of several analyst reports. B. Riley cut their target price on shares of IperionX from $30.00 to $28.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen raised shares of IperionX from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Roth Capital initiated coverage on shares of IperionX in a research note on Wednesday. They issued a "buy" rating and a $64.00 target price for the company. Two analysts have rated the stock with a Buy rating, According to MarketBeat, IperionX presently has an average rating of "Buy" and a consensus price target of $46.00.

IperionX Trading Down 4.6%

The stock's 50 day moving average price is $33.87 and its 200 day moving average price is $26.01.

Institutional Trading of IperionX

A number of institutional investors and hedge funds have recently bought and sold shares of IPX. Thomist Capital Management LP acquired a new stake in IperionX during the 2nd quarter worth approximately $59,384,000. Stifel Financial Corp increased its position in IperionX by 27.9% during the 4th quarter. Stifel Financial Corp now owns 900,237 shares of the company's stock worth $30,968,000 after purchasing an additional 196,558 shares in the last quarter. OLD Mission Capital LLC acquired a new stake in IperionX during the 1st quarter worth approximately $477,000. Jane Street Group LLC increased its position in IperionX by 73.8% during the 2nd quarter. Jane Street Group LLC now owns 55,558 shares of the company's stock worth $1,750,000 after purchasing an additional 23,591 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in IperionX during the 4th quarter worth approximately $602,000. Institutional investors and hedge funds 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.