IperionX (NASDAQ:IPX) Sets New 52-Week High – Here’s Why

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) hit a new 52-week high during trading on Monday . The company traded as high as $61.45 and last traded at $58.8190, with a volume of 40714 shares trading hands. The stock had previously closed at $60.11.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IPX. Roth Mkm reissued a “buy” rating and issued a $74.00 price target on shares of IperionX in a report on Tuesday, January 20th. William Blair assumed coverage on IperionX in a research note on Tuesday, January 13th. They issued an “outperform” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of IperionX from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

IperionX Stock Performance

The business’s 50-day simple moving average is $39.02 and its 200 day simple moving average is $42.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.99 and a current ratio of 6.99.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Mariner LLC acquired a new stake in IperionX in the 3rd quarter valued at about $599,000. Citadel Advisors LLC acquired a new stake in IperionX during the third quarter valued at approximately $622,000. Van ECK Associates Corp bought a new stake in IperionX during the third quarter worth approximately $40,997,000. Private Advisor Group LLC acquired a new position in IperionX in the third quarter worth approximately $405,000. Finally, Jones Financial Companies Lllp bought a new position in shares of IperionX in the third quarter valued at $36,000. 2.76% of the stock is owned by institutional investors and hedge funds.

About IperionX

IperionX (NASDAQ: IPX) is a mineral technology company focused on the production and commercialization of high‐purity titanium and zirconium products. The company’s core activities include the development of advanced mineral sands projects and the deployment of proprietary processing technologies aimed at supplying feedstocks to aerospace, defense, additive manufacturing and battery markets.

At the heart of IperionX’s operations is the Stony Creek Project in Virginia, where the company holds significant mineral sands rights.