IperionX (NASDAQ:IPX) Sees Strong Trading Volume – Time to Buy?

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) saw an uptick in trading volume on Friday . 152,707 shares changed hands during mid-day trading, a decline of 11% from the previous session’s volume of 170,744 shares.The stock last traded at $35.4620 and had previously closed at $40.56.

Analyst Upgrades and Downgrades

IPX has been the subject of a number of research reports. William Blair began coverage on shares of IperionX in a research report on Tuesday, January 13th. They set an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a report on Thursday, January 22nd. Finally, Roth Mkm reiterated a “buy” rating and issued a $74.00 price objective on shares of IperionX in a research note on Tuesday, January 20th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.00.

IperionX Trading Down 15.1%

The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $46.84 and a 200-day moving average of $43.74.

IperionX (NASDAQ:IPX) last issued its earnings results on Friday, January 30th. The company reported ($0.50) earnings per share for the quarter. As a group, sell-side analysts forecast that IperionX Limited Sponsored ADR will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. State of Tennessee Department of Treasury bought a new stake in IperionX during the 4th quarter valued at $119,000. XTX Topco Ltd bought a new position in shares of IperionX in the fourth quarter worth $302,000. Quadrature Capital Ltd grew its position in shares of IperionX by 42.8% in the fourth quarter. Quadrature Capital Ltd now owns 14,918 shares of the company’s stock valued at $540,000 after purchasing an additional 4,471 shares in the last quarter. Millennium Management LLC purchased a new position in shares of IperionX in the fourth quarter valued at $4,249,000. Finally, Man Group plc bought a new stake in shares of IperionX during the 4th quarter valued at $257,000. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

About IperionX

IperionX (NASDAQ: IPX) is a mineral technology company focused on the production and commercialization of high‐purity titanium and zirconium products. The company’s core activities include the development of advanced mineral sands projects and the deployment of proprietary processing technologies aimed at supplying feedstocks to aerospace, defense, additive manufacturing and battery markets.

At the heart of IperionX’s operations is the Stony Creek Project in Virginia, where the company holds significant mineral sands rights.