IperionX Limited Sponsored ADR (NASDAQ:IPX) Short Interest Down 29.8% in July

IperionX Limited Sponsored ADR (NASDAQ:IPX) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 128,200 shares, adropof29.8% from the July 15th total of 182,700 shares. Approximately0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 63,800 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily trading volume, of 63,800 shares, the days-to-cover ratio is presently 2.0 days. Approximately0.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Cape Investment Advisory Inc. purchased a new position in IperionX in the 2nd quarter worth approximately $34,000. Bank of America Corp DE lifted its stake in IperionX by 69.0% in the 2nd quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock worth $1,116,000 after purchasing an additional 14,467 shares in the last quarter. Jane Street Group LLC raised its position in shares of IperionX by 73.8% during the 2nd 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. Thomist Capital Management LP purchased a new stake in shares of IperionX during the 2nd quarter valued at approximately $59,384,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of IperionX during the 2nd quarter valued at approximately $66,000. 2.76% of the stock is owned by hedge funds and other institutional investors.

IperionX Price Performance

IPX opened at $41.49 on Friday. The company’s 50 day simple moving average is $34.38 and its two-hundred day simple moving average is $26.21. IperionX has a 1-year low of $12.27 and a 1-year high of $42.38.

Analyst Upgrades and Downgrades

IPX has been the topic of a number of research reports. Wall Street Zen raised shares of IperionX from a “sell” rating to a “hold” rating in a research note on Friday, June 6th. Roth Capital initiated coverage on shares of IperionX in a research note on Wednesday. They issued a “buy” rating and a $64.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $46.00.

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.