IperionX (NASDAQ:IPX) Stock Jumps 7.9% – Still a Buy?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s stock price rose 7.9% during trading on Friday. The stock traded as high as $16.42 and last traded at $16.48. 365,584 shares traded hands during mid-day trading, an increase of 34% from the average session volume of 273,766 shares. The stock had previously closed at $15.28.

Analyst Upgrades and Downgrades

IPX has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on IperionX in a research report on Wednesday, September 2nd. They set a “buy” rating and a $26.00 price target on the stock. Roth Capital set a $53.00 target price on shares of IperionX in a research note on Wednesday, August 5th. B. Riley Financial reduced their price objective on IperionX from $52.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, September 30th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a report on Friday, July 17th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

IperionX Price Performance

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

IperionX (NASDAQ:IPX) last released its earnings results on Thursday, July 30th. The company reported ($0.50) earnings per share (EPS) for the quarter. On average, sell-side analysts forecast that IperionX Limited Sponsored ADR will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at IperionX

In related news, Chairman Todd Hannigan acquired 300,000 shares of the business’s stock in a transaction on Monday, July 13th. The shares were bought at an average price of $3.59 per share, with a total value of $1,077,000.00. Following the completion of the acquisition, the chairman owned 26,633,334 shares in the company, 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 link.

Institutional Trading of IperionX

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in IperionX by 40.3% in the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock worth $50,000 after acquiring an additional 483 shares in the last quarter. Connective Capital Management LLC purchased a new stake in shares of IperionX during the 2nd quarter worth approximately $160,000. XY Capital Ltd acquired a new stake in shares of IperionX in the 4th quarter worth approximately $290,000. DLD Asset Management LP purchased a new stake in IperionX during the first quarter worth $260,000. Finally, Corigliano Investment Advisers LLC purchased a new position in IperionX during the 4th quarter valued at about $362,000. 2.76% of the stock is 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.