IperionX (NASDAQ:IPX) Shares Down 8.4% – Time to Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX) was down 8.4% during mid-day trading on Thursday. The company traded as low as $14.44 and last traded at $14.5750. 40,270 shares were traded 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.

Analysts Set New Price Targets

IPX has been the topic of a number of research reports. B. Riley Financial decreased 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. Jefferies Financial Group started coverage on IperionX in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $26.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a report on Thursday, October 15th. Finally, Roth Capital set a $53.00 price objective on IperionX in a report on Wednesday, August 5th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

IperionX Stock Performance

The company’s 50-day moving average price is $16.98 and its 200-day moving average price is $29.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.95 and a current ratio of 3.24.

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

Hedge Funds Weigh In On IperionX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of 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 second quarter worth $160,000. DLD Asset Management LP purchased a new stake in shares of IperionX during the first quarter worth $260,000. Finally, Private Advisor Group LLC purchased a new stake in shares of IperionX during the third quarter worth $840,000. Hedge funds and other institutional investors own 2.76% of the company’s stock.

About IperionX

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.