IperionX (NASDAQ:IPX) Sees Strong Trading Volume – Still a Buy?

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) saw an uptick in trading volume on Friday . 152,707 shares changed hands during trading, a decline of 11% from the previous session’s volume of 170,744 shares.The stock last traded at $35.4620 and had previously closed at $40.56.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IPX. Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a research note on Thursday, January 22nd. William Blair assumed coverage on IperionX in a report on Tuesday, January 13th. They set an “outperform” rating for the company. Finally, Roth Mkm reissued a “buy” rating and issued a $74.00 price target on shares of IperionX in a research report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

IperionX Stock Down 15.1%

The company has a debt-to-equity ratio of 0.04, a current ratio of 6.99 and a quick ratio of 6.99. The stock’s 50-day simple moving average is $46.84 and its 200-day simple moving average is $43.74.

IperionX (NASDAQ:IPX) last posted its earnings results on Friday, January 30th. The company reported ($0.50) EPS for the quarter. On average, equities analysts expect that IperionX Limited Sponsored ADR will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cape Investment Advisory Inc. bought a new position in IperionX in the 2nd quarter valued at $34,000. Jones Financial Companies Lllp bought a new stake in shares of IperionX during the 3rd quarter worth $36,000. JPMorgan Chase & Co. purchased a new position in shares of IperionX in the 2nd quarter worth about $66,000. State of Tennessee Department of Treasury purchased a new position in shares of IperionX in the 4th quarter worth about $119,000. Finally, DV Equities LLC bought a new position in IperionX during the fourth quarter valued at about $178,000. Hedge funds and other institutional investors own 2.76% of the company’s stock.

About IperionX

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.