IperionX (NASDAQ:IPX) Stock Price Down 5% – Here’s What Happened

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s share price fell 5% during trading on Tuesday. The company traded as low as $14.75 and last traded at $14.8350. Approximately 56,558 shares changed hands during trading, a decline of 79% from the average daily volume of 274,000 shares. The stock had previously closed at $15.62.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a report on Friday, July 17th. B. Riley Financial reduced their target price on IperionX from $52.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, September 30th. Roth Capital set a $53.00 target price on IperionX in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group assumed coverage on IperionX in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $26.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.00.

IperionX Stock Down 5.1%

The firm has a fifty day simple moving average of $20.66 and a 200-day simple moving average of $27.27. The company has a quick ratio of 2.95, a current ratio of 3.24 and a debt-to-equity ratio of 0.04.

IperionX (NASDAQ:IPX) last announced its earnings results on Thursday, July 30th. The company reported ($0.50) EPS for the quarter. On average, research analysts predict that IperionX Limited Sponsored ADR will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On IperionX

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in IperionX by 40.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock worth $50,000 after acquiring an additional 483 shares during the last quarter. Connective Capital Management LLC acquired a new stake in shares of IperionX in the second quarter valued at approximately $160,000. DLD Asset Management LP acquired a new stake in shares of IperionX in the first quarter valued at approximately $260,000. Corigliano Investment Advisers LLC acquired a new stake in shares of IperionX in the fourth quarter valued at approximately $362,000. Finally, Private Advisor Group LLC lifted its position in shares of IperionX by 69.9% in the first quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock worth $1,643,000 after purchasing an additional 25,964 shares in the last quarter. Institutional investors own 2.76% of the company’s stock.

IperionX Company Profile

IperionX Limited (NASDAQ: IPX) is a materials technology company focused on developing a U.S.-based, lower-carbon titanium supply chain. The company is working to produce titanium metal, powder and other titanium products for aerospace, defense, automotive, medical and other advanced manufacturing applications.

IperionX is developing its Titan Project in Tennessee, which is designed to supply titanium minerals and support domestic production of titanium products. The project is intended to integrate the processing of titanium mineral resources with downstream manufacturing, reducing reliance on overseas sources of titanium.

The company is also advancing proprietary processing technologies, including its Hydrogen Assisted Metallothermic Reduction process, which is designed to produce titanium metal and powder with lower energy requirements than conventional methods.