IperionX (NASDAQ:IPX) Sees Unusually-High Trading Volume – Should You Buy?

IperionX Limited Sponsored ADR (NASDAQ:IPX) shares saw strong trading volume on Monday . 51,509 shares traded hands during mid-day 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 Analysts Forecast Growth

Several research analysts recently commented on the company. B. Riley reduced their price objective on IperionX from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen raised IperionX from a “sell” rating to a “hold” rating in a research note on Friday, June 6th.

IperionX Price Performance

The firm has a 50 day moving average price of $22.32 and a 200-day moving average price of $24.38.

Hedge Funds Weigh In On IperionX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sowell Financial Services LLC purchased a new position in shares of IperionX in the 4th quarter valued at $1,597,000. Marshall Wace LLP purchased a new position in shares of IperionX in the 4th quarter valued at $465,000. Thomist Capital Management LP purchased a new position in shares of IperionX in the 4th quarter valued at $32,305,000. Stifel Financial Corp increased its position in IperionX by 27.9% during the fourth quarter. Stifel Financial Corp now owns 900,237 shares of the company’s stock worth $30,968,000 after buying an additional 196,558 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in IperionX during the fourth quarter worth approximately $602,000. Hedge funds and other institutional investors own 2.76% of the company’s stock.

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.