IperionX (NASDAQ:IPX) Shares Gap Down – Here’s What Happened

IperionX Limited Sponsored ADR (NASDAQ:IPX) shares gapped down before the market opened on Friday. The stock had previously closed at $17.04, but opened at $14.99. IperionX shares last traded at $14.9650, with a volume of 43,146 shares.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Roth Capital set a $53.00 target price on shares of IperionX in a report on Wednesday, August 5th. Jefferies Financial Group began coverage on shares of IperionX in a report on Wednesday, September 2nd. They issued a “buy” rating and a $26.00 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research note on Thursday, October 15th. Finally, B. Riley Financial dropped their price target on IperionX from $52.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, September 30th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

IperionX Stock Down 10.1%

The business’s fifty day moving average is $18.14 and its two-hundred day moving average is $30.61. The company has a quick ratio of 2.95, a current ratio of 3.24 and a debt-to-equity ratio of 0.04.

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

Institutional Investors Weigh In On IperionX

Several hedge funds have recently modified their holdings of IPX. GAMMA Investing LLC lifted 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 purchasing an additional 483 shares during the period. Connective Capital Management LLC acquired a new position in IperionX during the second quarter worth approximately $160,000. DLD Asset Management LP acquired a new position in IperionX in the first quarter valued at $260,000. Finally, Private Advisor Group LLC raised its holdings in IperionX by 69.9% in the first quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock valued at $1,643,000 after buying an additional 25,964 shares during the period. 2.76% of the stock is owned by institutional investors and hedge funds.

About IperionX

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.