IperionX (NASDAQ:IPX) Stock Price Down 7.5% – What’s Next?

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) dropped 7.5% on Wednesday. The stock traded as low as $15.64 and last traded at $15.7410. 153,723 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 273,032 shares. The stock had previously closed at $17.01.

Analysts Set New Price Targets

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

IperionX Price Performance

The business has a 50 day moving average of $20.87 and a two-hundred day moving average of $27.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.95 and a current ratio of 3.24.

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

Insider Activity at IperionX

In other IperionX news, Chairman Todd Hannigan acquired 300,000 shares of the stock in a transaction dated Monday, July 13th. The stock was purchased at an average price of $3.59 per share, with a total value of $1,077,000.00. Following the transaction, the chairman directly owned 26,633,334 shares of the company’s stock, valued at $95,613,669.06. This trade represents a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Trading of IperionX

A number of institutional investors have recently bought and sold shares of IPX. Private Advisor Group LLC increased its holdings in IperionX by 69.9% in the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock worth $1,643,000 after buying an additional 25,964 shares during the period. Corigliano Investment Advisers LLC acquired a new position in IperionX during the fourth quarter valued at $362,000. DLD Asset Management LP acquired a new position in IperionX during the first quarter valued at $260,000. XY Capital Ltd purchased a new stake in IperionX in the fourth quarter valued at $290,000. Finally, Connective Capital Management LLC acquired a new stake in IperionX during the 2nd quarter worth about $160,000. 2.76% of the stock is currently owned by institutional investors and hedge funds.

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.