IperionX (NASDAQ:IPX) Stock Price Up 6.4% – What’s Next?

IperionX Limited Sponsored ADR (NASDAQ:IPX – Get Free Report)’s stock price shot up 6.4% on Tuesday. The stock traded as high as $14.04 and last traded at $13.90. 29,612 shares changed hands during trading, a decline of 89% from the average daily volume of 275,239 shares. The stock had previously closed at $13.06.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research report on Thursday, October 15th. Roth Capital set a $53.00 price objective on shares of IperionX in a research report on Wednesday, August 5th. Jefferies Financial Group started coverage on shares of IperionX in a research note on Wednesday, September 2nd. They set a “buy” rating and a $26.00 target price on the stock. Finally, B. Riley Financial dropped their target price on shares of IperionX from $52.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, September 30th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Read Our Latest Report on IperionX

IperionX Stock Performance

The firm has a 50 day moving average of $18.23 and a 200-day moving average of $30.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.95 and a current ratio of 3.24.

IperionX (NASDAQ:IPX – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.50) earnings per share for the quarter. On average, equities analysts expect that IperionX Limited Sponsored ADR will post -0.13 EPS for the current year.

Hedge Funds Weigh In On IperionX

A number of hedge funds and other institutional investors have recently modified their holdings of IPX. Private Advisor Group LLC increased its holdings in IperionX by 69.9% in the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock valued at $1,643,000 after acquiring an additional 25,964 shares during the last quarter. DLD Asset Management LP bought a new position in shares of IperionX during the 1st quarter valued at about $260,000. Connective Capital Management LLC bought a new position in shares of IperionX during the 2nd quarter valued at about $160,000. Finally, GAMMA Investing LLC grew its position in shares of IperionX by 40.3% during the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock valued at $50,000 after purchasing an additional 483 shares in the last quarter. Institutional investors own 2.76% of the company’s stock.

About IperionX

(Get Free Report)

IperionX Limited (NASDAQ: IPX) is a critical minerals and advanced materials company focused on producing low-carbon titanium products in the United States. The company is developing domestic sources of titanium minerals and technologies intended to convert titanium feedstocks into titanium metal, powder and other advanced materials.

IperionX’s primary development asset is the Titan Project in Tennessee, which contains titanium, zircon and other heavy mineral sands. The company is also developing proprietary processing technologies, including the Hydrogen-Assisted Metallothermic Reduction (HAMR) process and the Titanium Alloy Production (TAP) process, with the goal of manufacturing titanium products using less energy than conventional production methods and incorporating recycled titanium where practical.

The company targets customers in industries such as aerospace, defense, medical devices, automotive, consumer products and additive manufacturing.

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