IperionX (NASDAQ:IPX) Sets New 52-Week High - What's Next?

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.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report)'s stock price 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 trading hands. The stock had previously closed at $48.53.

Wall Street Analyst Weigh In

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

IperionX Price Performance

The business has a 50-day moving average of $38.45 and a 200-day moving average of $27.75.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IPX. Thomist Capital Management LP bought a new stake in IperionX in the fourth quarter valued at about $32,305,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of IperionX during the fourth quarter worth approximately $602,000. GAMMA Investing LLC lifted its position in IperionX by 479.2% in the first quarter. GAMMA Investing LLC now owns 2,195 shares of the company's stock worth $39,000 after purchasing an additional 1,816 shares during the period. Bank of America Corp DE lifted its position in IperionX by 15.8% in the fourth 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. Finally, Citadel Advisors LLC acquired a new stake in IperionX in the fourth quarter worth approximately $283,000. 2.76% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.