IperionX (NASDAQ:IPX) Shares Gap Up – Here’s What Happened

IperionX Limited Sponsored ADR (NASDAQ:IPX – Get Free Report) gapped up before the market opened on Monday. The stock had previously closed at $14.10, but opened at $15.35. IperionX shares last traded at $15.3350, with a volume of 25,221 shares.

Analysts Set New Price Targets

IPX has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of IperionX in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $26.00 target price on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research report on Thursday, October 15th. B. Riley Financial reduced their price target on shares of IperionX from $52.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, September 30th. Finally, Roth Capital set a $53.00 price objective on shares of IperionX in a report on Wednesday, August 5th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Check Out Our Latest Research Report on IperionX

IperionX Price Performance

The business has a fifty day moving average of $17.08 and a 200 day moving average of $29.27. The company has a current ratio of 3.24, a quick ratio of 2.95 and a debt-to-equity ratio of 0.04.

IperionX (NASDAQ:IPX – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.50) earnings per share (EPS) for the quarter. As a group, equities analysts expect that IperionX Limited Sponsored ADR will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On IperionX

Large investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC acquired a new stake in IperionX during the 3rd quarter worth approximately $840,000. Connective Capital Management LLC acquired a new position in shares of IperionX in the second quarter worth $160,000. GAMMA Investing LLC grew its stake in shares of IperionX by 40.3% in the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock worth $50,000 after acquiring an additional 483 shares in the last quarter. Finally, DLD Asset Management LP purchased a new stake in shares of IperionX during the first quarter worth $260,000. 2.76% of the stock is owned by hedge funds and other institutional investors.

About IperionX

(Get Free Report)

IperionX Limited is a materials technology company focused on developing a U.S.-centered supply chain for titanium and other critical minerals. The company develops technologies to produce titanium metal and alloys from mineral feedstocks and recycled materials, with the goal of offering an alternative to conventional titanium production methods. IperionX’s proprietary processes include Hydrogen Assisted Magnesiothermic Reduction (HAMR) and Hydrogen Sintering and Phase Transformation (HSPT). Its planned products include titanium powders and other materials for applications such as additive manufacturing, aerospace, defense, automotive and consumer products.

Further Reading

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