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

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s stock price gapped up before the market opened on Monday. The stock had previously closed at $14.10, but opened at $15.35. IperionX shares last traded at $15.3350, with a volume of 25,221 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IPX. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research note on Thursday, October 15th. Roth Capital set a $53.00 target price on IperionX in a research note on Wednesday, August 5th. B. Riley Financial lowered their target price on IperionX from $52.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, September 30th. Finally, Jefferies Financial Group assumed coverage on IperionX in a report on Wednesday, September 2nd. They set a “buy” rating and a $26.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

IperionX Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.95 and a current ratio of 3.24. The firm has a 50 day simple moving average of $17.29 and a two-hundred day simple moving average of $29.64.

IperionX (NASDAQ:IPX) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.50) earnings per share (EPS) for the quarter. On average, research analysts forecast that IperionX Limited Sponsored ADR will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On IperionX

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted 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 purchasing an additional 483 shares in the last quarter. Connective Capital Management LLC acquired a new position in shares of IperionX during the 2nd quarter valued at $160,000. DLD Asset Management LP bought a new stake in shares of IperionX in the 1st quarter worth $260,000. Finally, Private Advisor Group LLC raised its stake in shares of IperionX by 69.9% in the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock worth $1,643,000 after buying an additional 25,964 shares in the last quarter. 2.76% of the stock is currently owned by institutional investors and hedge funds.

IperionX Company Profile

IperionX Limited (NASDAQ: IPX) is a critical minerals and advanced materials company focused on producing low-carbon titanium products in the United States. The company is developing domestic sources of titanium minerals and technologies intended to convert titanium feedstocks into titanium metal, powder and other advanced materials.

IperionX’s primary development asset is the Titan Project in Tennessee, which contains titanium, zircon and other heavy mineral sands. The company is also developing proprietary processing technologies, including the Hydrogen-Assisted Metallothermic Reduction (HAMR) process and the Titanium Alloy Production (TAP) process, with the goal of manufacturing titanium products using less energy than conventional production methods and incorporating recycled titanium where practical.

The company targets customers in industries such as aerospace, defense, medical devices, automotive, consumer products and additive manufacturing.