IperionX (NASDAQ:IPX) Shares Gap Down – Should You Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX) shares gapped down before the market opened on Thursday . The stock had previously closed at $24.70, but opened at $23.47. IperionX shares last traded at $22.6640, with a volume of 60,207 shares.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IPX. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research report on Thursday, January 22nd. William Blair initiated coverage on shares of IperionX in a report on Tuesday, January 13th. They set an “outperform” rating on the stock. B. Riley Financial cut their price target on shares of IperionX from $58.00 to $52.00 and set a “buy” rating for the company in a report on Friday, March 13th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $74.00 price target on shares of IperionX in a report 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

IperionX Stock Performance

The company has a current ratio of 4.03, a quick ratio of 4.00 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $43.69 and a 200 day moving average price of $42.50.

IperionX (NASDAQ:IPX) last announced its quarterly earnings data on Friday, January 30th. The company reported ($0.50) earnings per share (EPS) for the quarter. Research analysts forecast that IperionX Limited Sponsored ADR will post -0.08 EPS for the current year.

Institutional Trading of IperionX

Several institutional investors and hedge funds have recently bought and sold shares of IPX. Jones Financial Companies Lllp bought a new stake in IperionX during the 3rd quarter valued at approximately $36,000. Cape Investment Advisory Inc. purchased a new position in shares of IperionX in the 2nd quarter valued at approximately $34,000. JPMorgan Chase & Co. purchased a new stake in IperionX in the second quarter worth $66,000. State of Tennessee Department of Treasury purchased a new stake in IperionX in the fourth quarter worth $119,000. Finally, Quadrature Capital Ltd raised its holdings in IperionX by 42.8% in the fourth quarter. Quadrature Capital Ltd now owns 14,918 shares of the company’s stock worth $540,000 after purchasing an additional 4,471 shares in the last quarter. 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.