Weiss Ratings Reaffirms Sell (E+) Rating for IperionX (NASDAQ:IPX)

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for IperionX (NASDAQ:IPX) in their latest report.
• Roth Capital recently raised its rating on IperionX to "buy" with a new price target of $74.00, while Wall Street Zen downgraded it to a "sell" rating.
• Notably, several institutional investors increased their holdings in IperionX, with Thomist Capital Management purchasing a new position worth approximately $59.4 million.

IperionX (NASDAQ:IPX - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the stock. Roth Capital reissued a "buy" rating and issued a $74.00 price target (up from $64.00) on shares of IperionX in a report on Wednesday, October 1st. Wall Street Zen lowered shares of IperionX from a "hold" rating to a "sell" rating in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $51.00.

IperionX Trading Down 0.5%

Shares of IPX opened at $56.11 on Wednesday. The firm has a 50-day moving average price of $44.95 and a 200 day moving average price of $31.70. IperionX has a 52-week low of $12.27 and a 52-week high of $56.78.

Hedge Funds Weigh In On IperionX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thomist Capital Management LP purchased a new position in IperionX during the 2nd quarter worth approximately $59,384,000. Osaic Holdings Inc. raised its position in IperionX by 7.7% during the second quarter. Osaic Holdings Inc. now owns 70,325 shares of the company's stock valued at $2,215,000 after buying an additional 5,000 shares during the period. Jane Street Group LLC raised its position in IperionX by 73.8% during the second quarter. Jane Street Group LLC now owns 55,558 shares of the company's stock valued at $1,750,000 after buying an additional 23,591 shares during the period. Bank of America Corp DE raised its position in IperionX by 69.0% during the second quarter. Bank of America Corp DE now owns 35,441 shares of the company's stock valued at $1,116,000 after buying an additional 14,467 shares during the period. Finally, OLD Mission Capital LLC acquired a new position in IperionX during the first quarter valued at $477,000. 2.76% of the stock is currently 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.

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