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

IperionX Limited Sponsored ADR (NASDAQ:IPX) gapped up before the market opened on Monday . The stock had previously closed at $23.15, but opened at $24.37. IperionX shares last traded at $25.1660, with a volume of 61,985 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a report on Thursday, January 22nd. William Blair assumed coverage on shares of IperionX in a research report on Tuesday, January 13th. They issued an “outperform” rating on the stock. B. Riley Financial reduced their price objective on shares of IperionX from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, March 13th. BTIG Research started coverage on shares of IperionX in a report on Friday. They set a “buy” rating and a $40.00 price objective for the company. Finally, Roth Mkm reiterated a “buy” rating and issued a $74.00 target price on shares of IperionX in a research note on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.33.

IperionX Stock Up 7.1%

The firm has a 50-day moving average of $42.72 and a two-hundred day moving average of $42.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.00 and a current ratio of 4.03.

IperionX (NASDAQ:IPX) last released its earnings results on Saturday, January 31st. The company reported ($0.50) earnings per share (EPS) for the quarter. As a group, analysts expect that IperionX Limited Sponsored ADR will post -0.08 EPS for the current year.

Hedge Funds Weigh In On IperionX

A number of institutional investors and hedge funds have recently bought and sold shares of IPX. Cape Investment Advisory Inc. acquired a new position in IperionX during the 2nd quarter valued at $34,000. Jones Financial Companies Lllp bought a new position in shares of IperionX during the 3rd quarter worth about $36,000. JPMorgan Chase & Co. bought a new position in shares of IperionX during the 2nd quarter worth about $66,000. State of Tennessee Department of Treasury acquired a new position in shares of IperionX during the fourth quarter valued at about $119,000. Finally, DV Equities LLC bought a new stake in shares of IperionX in the fourth quarter valued at about $178,000. Institutional investors own 2.76% of the company’s stock.

IperionX Company Profile

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.