IperionX (NASDAQ:IPX) Sets New 52-Week Low – Here’s Why

IperionX Limited Sponsored ADR (NASDAQ:IPX) shares reached a new 52-week low on Wednesday. The stock traded as low as $14.60 and last traded at $14.68, with a volume of 317,743 shares traded. The stock had previously closed at $15.62.

Analyst Upgrades and Downgrades

IPX has been the topic of a number of recent research reports. B. Riley Financial decreased their target price on IperionX from $52.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, September 30th. Roth Capital set a $53.00 target price on IperionX in a report on Wednesday, August 5th. Jefferies Financial Group began coverage on IperionX in a report on Wednesday, September 2nd. They set a “buy” rating and a $26.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

IperionX Stock Down 6.0%

The firm’s fifty day simple moving average is $20.48 and its 200 day simple moving average is $27.20. The company has a quick ratio of 2.95, a current ratio of 3.24 and a debt-to-equity ratio of 0.04.

IperionX (NASDAQ:IPX) last released its earnings results on Thursday, July 30th. The company reported ($0.50) earnings per share for the quarter. As a group, analysts anticipate that IperionX Limited Sponsored ADR will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IperionX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Connective Capital Management LLC acquired a new stake in IperionX during the 2nd quarter worth about $160,000. GAMMA Investing LLC grew its stake in IperionX by 40.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock valued at $50,000 after acquiring an additional 483 shares in the last quarter. DLD Asset Management LP purchased a new position in IperionX during the 1st quarter valued at about $260,000. Private Advisor Group LLC grew its stake in IperionX by 69.9% during the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock valued at $1,643,000 after acquiring an additional 25,964 shares in the last quarter. Finally, Corigliano Investment Advisers LLC acquired a new position in shares of IperionX in the 4th quarter valued at about $362,000. Institutional investors and hedge funds own 2.76% of the company’s stock.

IperionX Company Profile

IperionX Limited (NASDAQ: IPX) is a materials technology company focused on developing a U.S.-based, lower-carbon titanium supply chain. The company is working to produce titanium metal, powder and other titanium products for aerospace, defense, automotive, medical and other advanced manufacturing applications.

IperionX is developing its Titan Project in Tennessee, which is designed to supply titanium minerals and support domestic production of titanium products. The project is intended to integrate the processing of titanium mineral resources with downstream manufacturing, reducing reliance on overseas sources of titanium.

The company is also advancing proprietary processing technologies, including its Hydrogen Assisted Metallothermic Reduction process, which is designed to produce titanium metal and powder with lower energy requirements than conventional methods.