IperionX (NASDAQ:IPX) Trading Up 7.9% - Here's Why

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) shot up 7.9% on Thursday . The company traded as high as $30.39 and last traded at $30.54. 66,503 shares were traded during trading, an increase of 23% from the average session volume of 54,102 shares. The stock had previously closed at $28.31.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. B. Riley decreased their price target on shares of IperionX from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen upgraded shares of IperionX from a "sell" rating to a "hold" rating in a research report on Friday, June 6th.

IperionX Price Performance

The stock has a 50-day moving average price of $25.58 and a two-hundred day moving average price of $24.48.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Thomist Capital Management LP purchased a new position in shares of IperionX in the 4th quarter valued at approximately $32,305,000. Stifel Financial Corp raised its holdings in IperionX by 27.9% in the fourth quarter. Stifel Financial Corp now owns 900,237 shares of the company's stock worth $30,968,000 after purchasing an additional 196,558 shares in the last quarter. OLD Mission Capital LLC purchased a new position in IperionX during the first quarter valued at $477,000. Mercer Global Advisors Inc. ADV purchased a new position in IperionX during the fourth quarter valued at $602,000. Finally, Marshall Wace LLP bought a new stake in shares of IperionX during the 4th quarter valued at $465,000. 2.76% of the stock is owned by hedge funds and other institutional investors.

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.

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.