IperionX (NASDAQ:IPX) Shares Up 5.2% - Here's What Happened

Key Points

• IperionX Limited shares rose 5.2%, reaching a trading high of $45.00 before closing at $44.02, following increased trading activity despite a decrease in volume.
• Analysts have a consensus rating of "Buy" on IperionX, with projections for the stock price averaging $46.00, following upgrades from various research firms.
• Institutional investors have shown significant interest, with several hedge funds acquiring new stakes or increasing their positions in IperionX during the latest quarters.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) shares rose 5.2% during trading on Monday . The stock traded as high as $45.00 and last traded at $44.02. Approximately 64,736 shares were traded during mid-day trading, a decline of 8% from the average daily volume of 70,108 shares. The stock had previously closed at $41.84.

Analyst Ratings Changes

Several brokerages recently issued reports on IPX. Wall Street Zen raised 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 research report on Wednesday, August 20th. They set a "buy" rating and a $64.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $46.00.

IperionX Stock Down 0.1%

The business has a fifty day moving average price of $36.36 and a two-hundred day moving average price of $26.96.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in IperionX during the fourth quarter worth about $465,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of IperionX in the fourth quarter valued at approximately $602,000. Bank of America Corp DE lifted its position in shares of 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 acquiring an additional 3,293 shares in the last quarter. Citadel Advisors LLC purchased a new position in IperionX during the fourth quarter worth approximately $283,000. Finally, Corigliano Investment Advisers LLC purchased a new position in IperionX during the fourth quarter worth approximately $344,000. 2.76% of the stock is owned by institutional investors and hedge funds.

IperionX Company Profile

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.