IperionX (NASDAQ:IPX) Sees Large Volume Increase – Should You Buy?

IperionX Limited Sponsored ADR (NASDAQ:IPX) saw unusually-high trading volume on Monday . Approximately 51,509 shares traded hands during trading, an increase of 0% from the previous session’s volume of 51,471 shares.The stock last traded at $29.74 and had previously closed at $25.96.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IPX shares. B. Riley reduced their target price on IperionX from $30.00 to $28.00 and set a “buy” rating on the stock in a research 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 Performance

The company has a 50-day moving average of $22.32 and a two-hundred day moving average of $24.38.

Hedge Funds Weigh In On IperionX

Large investors have recently modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new stake in shares of IperionX in the fourth quarter valued at about $241,000. Sowell Financial Services LLC acquired a new stake in shares of IperionX in the fourth quarter valued at about $1,597,000. Marshall Wace LLP acquired a new stake in shares of IperionX in the fourth quarter valued at about $465,000. Stifel Financial Corp grew its stake in shares of 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 buying an additional 196,558 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of IperionX in the fourth quarter valued at about $602,000. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

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.