IperionX (NASDAQ:IPX) Shares Gap Down – What’s Next?

IperionX Limited Sponsored ADR (NASDAQ:IPX) gapped down prior to trading 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.

Analyst Ratings Changes

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

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 company’s 50-day simple moving average is $42.72 and its 200-day simple moving average is $42.19.

IperionX (NASDAQ:IPX) last announced its quarterly earnings data on Saturday, January 31st. The company reported ($0.50) EPS for the quarter. Equities research analysts anticipate that IperionX Limited Sponsored ADR will post -0.08 EPS for the current year.

Hedge Funds Weigh In On IperionX

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cape Investment Advisory Inc. acquired a new position in IperionX during the second quarter worth approximately $34,000. Jones Financial Companies Lllp acquired a new stake in shares of IperionX in the third quarter valued at approximately $36,000. JPMorgan Chase & Co. bought a new position in shares of IperionX during the 2nd quarter worth approximately $66,000. State of Tennessee Department of Treasury bought a new position in shares of IperionX during the 4th quarter worth approximately $119,000. Finally, DV Equities LLC acquired a new position in shares of IperionX during the 4th quarter worth approximately $178,000. Institutional investors own 2.76% of the company’s stock.

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.