IperionX (NASDAQ:IPX) Shares Gap Up - What's Next?

Key Points

• IperionX Limited's share price rose from $49.35 to $51.57 upon market opening, last trading at $51.32 with a volume of 9,132 shares.
• Analysts have given IperionX an average rating of "Buy", with a consensus target price of $46.00, reflecting positive sentiment on the stock.
• Several institutional investors have increased their holdings in IperionX, indicating growing confidence in its market potential and sustainability mission.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $49.35, but opened at $51.57. IperionX shares last traded at $51.32, with a volume of 9,132 shares.

Analysts Set New Price Targets

A number of brokerages have issued reports on IPX. Roth Capital reiterated a "buy" rating on shares of IperionX in a research note on Wednesday. Wall Street Zen upgraded IperionX from a "sell" rating to a "hold" rating in a research note on Saturday, September 20th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $46.00.

IperionX Trading Up 4.9%

The business has a 50-day moving average of $43.12 and a two-hundred day moving average of $30.35.

Institutional Investors Weigh In On IperionX

A number of hedge funds and other institutional investors have recently bought and sold shares of IPX. Bank of America Corp DE grew its position in IperionX by 15.8% during the 4th quarter. Bank of America Corp DE now owns 24,193 shares of the company's stock worth $832,000 after acquiring an additional 3,293 shares during the last quarter. Citadel Advisors LLC acquired a new position in IperionX during the 4th quarter worth about $283,000. GAMMA Investing LLC lifted its holdings in IperionX by 479.2% during the 1st quarter. GAMMA Investing LLC now owns 2,195 shares of the company's stock worth $39,000 after buying an additional 1,816 shares during the period. OLD Mission Capital LLC acquired a new position in IperionX during the 1st quarter worth about $477,000. Finally, Jane Street Group LLC lifted its holdings in IperionX by 70.4% during the 1st quarter. Jane Street Group LLC now owns 31,967 shares of the company's stock worth $575,000 after buying an additional 13,207 shares during the period. 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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