IperionX (NASDAQ:IPX) Stock Price Down 8.4% – Here’s What Happened

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s stock price traded down 8.4% during mid-day trading on Thursday. The stock traded as low as $14.44 and last traded at $14.5750. 40,270 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 278,345 shares. The stock had previously closed at $15.91.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IPX shares. Jefferies Financial Group began coverage on IperionX in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $26.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a report on Thursday, October 15th. B. Riley Financial cut their price objective on shares of IperionX from $52.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. Finally, Roth Capital set a $53.00 target price on shares of IperionX in a research note on Wednesday, August 5th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, IperionX presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

IperionX Stock 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 business has a fifty day moving average of $16.98 and a 200 day moving average of $29.05.

IperionX (NASDAQ:IPX) last posted its earnings results on Thursday, July 30th. The company reported ($0.50) earnings per share (EPS) for the quarter. As a group, analysts anticipate that IperionX Limited Sponsored ADR will post -0.34 EPS for the current year.

Institutional Trading of IperionX

A number of hedge funds and other institutional investors 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 buying an additional 483 shares during the last quarter. Connective Capital Management LLC purchased a new stake in shares of IperionX in the 2nd quarter valued at approximately $160,000. DLD Asset Management LP acquired a new position in shares of IperionX in the 1st quarter worth approximately $260,000. Finally, Private Advisor Group LLC acquired a new position in shares of IperionX in the 3rd quarter worth approximately $840,000. 2.76% of the stock is owned by institutional investors and hedge funds.

IperionX Company Profile

IperionX Limited is a materials technology company focused on developing a U.S.-centered supply chain for titanium and other critical minerals. The company develops technologies to produce titanium metal and alloys from mineral feedstocks and recycled materials, with the goal of offering an alternative to conventional titanium production methods. IperionX’s proprietary processes include Hydrogen Assisted Magnesiothermic Reduction (HAMR) and Hydrogen Sintering and Phase Transformation (HSPT). Its planned products include titanium powders and other materials for applications such as additive manufacturing, aerospace, defense, automotive and consumer products.