IperionX (NASDAQ:IPX) Trading Up 11.4% – Should You Buy?

IperionX Limited Sponsored ADR (NASDAQ:IPX) traded up 11.4% during trading on Wednesday . The stock traded as high as $30.70 and last traded at $30.31. 84,891 shares changed hands during trading, a decline of 64% from the average session volume of 239,065 shares. The stock had previously closed at $27.21.

Analysts Set New Price Targets

Several research analysts recently commented on the company. B. Riley Financial reduced their price target on IperionX from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a research report on Thursday, January 22nd. BTIG Research initiated coverage on IperionX in a research report on Friday, March 27th. They set a “buy” rating and a $40.00 price target for the company. William Blair initiated coverage on IperionX in a research note on Tuesday, January 13th. They issued an “outperform” rating on the stock. Finally, Roth Mkm reiterated a “buy” rating and set a $74.00 target price on shares of IperionX in a research note 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.33.

IperionX Stock Performance

The stock has a 50 day simple moving average of $38.91 and a 200 day simple moving average of $41.28. 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 posted its quarterly earnings data on Saturday, January 31st. The company reported ($0.50) EPS for the quarter. Equities research analysts expect that IperionX Limited Sponsored ADR will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IperionX

A number of hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp bought a new position in IperionX during the 3rd quarter worth $36,000. Cape Investment Advisory Inc. bought a new position in IperionX during the 2nd quarter worth $34,000. JPMorgan Chase & Co. bought a new position in shares of IperionX in the 2nd quarter valued at $66,000. State of Tennessee Department of Treasury bought a new position in shares of IperionX in the 4th quarter valued at $119,000. Finally, Quadrature Capital Ltd increased its stake in shares of IperionX by 42.8% in the 4th quarter. Quadrature Capital Ltd now owns 14,918 shares of the company’s stock valued at $540,000 after purchasing an additional 4,471 shares during the last quarter. 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.