IperionX (NASDAQ:IPX) Shares Climb 6.4% – Here’s What Happened

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) shot up 6.4% during trading on Tuesday. The stock traded as high as $14.04 and last traded at $13.90. 29,612 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 275,239 shares. The stock had previously closed at $13.06.

Analysts Set New Price Targets

A number of research firms recently commented on IPX. Roth Capital set a $53.00 price target on shares of IperionX in a research report on Wednesday, August 5th. Jefferies Financial Group assumed coverage on shares of IperionX in a report on Wednesday, September 2nd. They issued a “buy” rating and a $26.00 price objective for the company. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research report on Thursday, October 15th. Finally, B. Riley Financial lowered their target price on shares of IperionX from $52.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, September 30th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.00.

IperionX Trading Up 10.0%

The stock has a 50-day moving average of $18.56 and a 200 day moving average of $31.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.24 and a quick ratio of 2.95.

IperionX (NASDAQ:IPX) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.50) earnings per share for the quarter. As a group, equities analysts anticipate that IperionX Limited Sponsored ADR will post -0.13 EPS for the current year.

Institutional Trading of IperionX

Institutional investors and hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC boosted its position in shares of IperionX by 69.9% during the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock worth $1,643,000 after acquiring an additional 25,964 shares in the last quarter. Connective Capital Management LLC bought a new position in IperionX in the second quarter valued at approximately $160,000. GAMMA Investing LLC grew its position in IperionX by 40.3% in the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock valued at $50,000 after acquiring an additional 483 shares during the last quarter. Finally, DLD Asset Management LP acquired a new position in IperionX during the 1st quarter worth approximately $260,000. Institutional investors own 2.76% of the company’s stock.

IperionX Company Profile

IperionX Limited (NASDAQ: IPX) is a critical minerals and advanced materials company focused on producing low-carbon titanium products in the United States. The company is developing domestic sources of titanium minerals and technologies intended to convert titanium feedstocks into titanium metal, powder and other advanced materials.

IperionX’s primary development asset is the Titan Project in Tennessee, which contains titanium, zircon and other heavy mineral sands. The company is also developing proprietary processing technologies, including the Hydrogen-Assisted Metallothermic Reduction (HAMR) process and the Titanium Alloy Production (TAP) process, with the goal of manufacturing titanium products using less energy than conventional production methods and incorporating recycled titanium where practical.

The company targets customers in industries such as aerospace, defense, medical devices, automotive, consumer products and additive manufacturing.