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

Key Points

• IperionX Limited's stock reached a new 52-week high of $49.46 during trading, closing at $48.47 with a volume of 74,421 shares traded.
• Wall Street analysts have upgraded IperionX's rating to "hold" and issued a "buy" rating with a price target of $64.00, leading to a consensus rating of "Buy" and an average target price of $46.00.
• Institutional investors have actively engaged with IperionX, with significant stake increases from firms like Thomist Capital Management and Bank of America Corp DE in the previous quarters.

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $49.46 and last traded at $48.47, with a volume of 74421 shares traded. The stock had previously closed at $48.53.

Analysts Set New Price Targets

A number of research firms have commented on IPX. Wall Street Zen raised shares of IperionX from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Roth Capital initiated coverage on shares of IperionX in a research report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 target price for the company. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $46.00.

IperionX Price Performance

The stock's 50-day moving average price is $39.58 and its 200-day moving average price is $28.27.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Thomist Capital Management LP acquired a new position in IperionX in the fourth quarter valued at about $32,305,000. GAMMA Investing LLC raised its stake in IperionX by 479.2% in the first quarter. GAMMA Investing LLC now owns 2,195 shares of the company's stock valued at $39,000 after purchasing an additional 1,816 shares in the last quarter. Bank of America Corp DE raised its stake in 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 in the last quarter. Citadel Advisors LLC acquired a new position in IperionX in the fourth quarter valued at about $283,000. Finally, OLD Mission Capital LLC acquired a new position in IperionX in the first quarter valued at about $477,000. 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.