IperionX (NASDAQ:IPX) Stock Price Up 0.5% - What's Next?

Key Points

• The share price of IperionX (NASDAQ:IPX) increased by 0.5%, closing at $40.59 after reaching a high of $40.95 during trading.
• Institutional investors have made significant moves in IperionX, with Thomist Capital Management LP investing $32.3 million and GAMMA Investing LLC increasing its holdings by 479.2%.
• Research firm B. Riley has downgraded IperionX's price target from $30.00 to $28.00 while maintaining a "buy" rating, indicating mixed sentiments among analysts.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report)'s stock price rose 0.5% during mid-day trading on Tuesday . The company traded as high as $40.95 and last traded at $40.59. Approximately 43,417 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 67,979 shares. The stock had previously closed at $40.39.

Analysts Set New Price Targets

IPX has been the subject of several analyst reports. B. Riley decreased their price objective on 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 IperionX from a "sell" rating to a "hold" rating in a research report on Friday, June 6th.

IperionX Stock Down 4.9%

The firm's 50 day moving average is $29.49 and its 200-day moving average is $24.65.

Institutional Trading of IperionX

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Thomist Capital Management LP bought a new position in shares of IperionX in the fourth quarter worth approximately $32,305,000. Stifel Financial Corp grew its stake in IperionX by 27.9% in the fourth quarter. Stifel Financial Corp now owns 900,237 shares of the company's stock valued at $30,968,000 after purchasing an additional 196,558 shares during the last quarter. OLD Mission Capital LLC acquired a new position in IperionX in the first quarter valued at approximately $477,000. Mercer Global Advisors Inc. ADV acquired a new stake in IperionX during the fourth quarter worth $602,000. Finally, Marshall Wace LLP acquired a new position in IperionX during the 4th quarter worth $465,000. 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.