IperionX (NASDAQ:IPX) Shares Gap Up – Still a Buy?

IperionX Limited Sponsored ADR (NASDAQ:IPX) gapped up before the market opened on Monday . The stock had previously closed at $23.15, but opened at $24.37. IperionX shares last traded at $25.1660, with a volume of 61,985 shares.

Wall Street Analyst Weigh In

IPX has been the topic of a number of research reports. William Blair started coverage on IperionX in a report on Tuesday, January 13th. They issued an “outperform” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a report on Thursday, January 22nd. BTIG Research started coverage on shares of IperionX in a research report on Friday. They set a “buy” rating and a $40.00 price objective on the stock. B. Riley Financial cut their target price on shares of IperionX from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Finally, Roth Mkm reissued a “buy” rating and set a $74.00 target price on shares of IperionX in a research note on Tuesday, January 20th. Four 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.33.

IperionX Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.00 and a current ratio of 4.03. The stock has a 50 day moving average price of $42.72 and a two-hundred day moving average price of $42.16.

IperionX (NASDAQ:IPX) last released its quarterly earnings data on Saturday, January 31st. The company reported ($0.50) EPS for the quarter. On average, research analysts forecast that IperionX Limited Sponsored ADR will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Thomist Capital Management LP acquired a new stake in shares of IperionX in the 2nd quarter valued at $59,384,000. Van ECK Associates Corp acquired a new position in IperionX during the third quarter worth $40,997,000. Millennium Management LLC bought a new position in IperionX during the fourth quarter valued at about $4,249,000. Jane Street Group LLC lifted its position in shares of IperionX by 62.5% in the fourth quarter. Jane Street Group LLC now owns 129,020 shares of the company’s stock worth $4,669,000 after buying an additional 49,645 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of IperionX by 69.0% in the second quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock worth $1,116,000 after buying an additional 14,467 shares during the last quarter. 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.