Roth Capital Reiterates Buy Rating for IperionX (NASDAQ:IPX)

IperionX (NASDAQ:IPX)‘s stock had its “buy” rating reaffirmed by investment analysts at Roth Capital in a report released on Tuesday,Benzinga reports. They currently have a $74.00 target price on the stock. Roth Capital’s target price indicates a potential upside of 53.69% from the company’s previous close.

Several other analysts also recently weighed in on IPX. William Blair began coverage on shares of IperionX in a research report on Tuesday, January 13th. They set an “outperform” rating on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered IperionX from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, IperionX has an average rating of “Moderate Buy” and a consensus target price of $51.00.

IperionX Stock Up 2.8%

IPX stock traded up $1.33 during trading on Tuesday, hitting $48.15. The company had a trading volume of 49,605 shares, compared to its average volume of 140,081. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.04. IperionX has a 52-week low of $12.27 and a 52-week high of $60.90. The company has a 50 day simple moving average of $36.54 and a 200-day simple moving average of $40.98.

Hedge Funds Weigh In On IperionX

Several institutional investors and hedge funds have recently modified their holdings of IPX. Jones Financial Companies Lllp purchased a new position in shares of IperionX in the 3rd quarter worth $36,000. GAMMA Investing LLC grew its position in shares of IperionX by 684.4% during the 2nd quarter. GAMMA Investing LLC now owns 957 shares of the company’s stock valued at $30,000 after buying an additional 835 shares during the last quarter. Cape Investment Advisory Inc. acquired a new position in IperionX during the 2nd quarter valued at approximately $34,000. JPMorgan Chase & Co. acquired a new stake in shares of IperionX in the 2nd quarter worth about $66,000. Finally, Osaic Holdings Inc. increased its position in IperionX by 7.7% in the 2nd quarter. Osaic Holdings Inc. now owns 70,325 shares of the company’s stock valued at $2,215,000 after acquiring an additional 5,000 shares during the period. Hedge funds and other 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.