IperionX (NASDAQ:IPX) Trading Up 5.1% – What’s Next?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s share price was up 5.1% during mid-day trading on Wednesday . The stock traded as high as $37.46 and last traded at $36.6150. Approximately 43,274 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 100,051 shares. The stock had previously closed at $34.85.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on IPX shares. Roth Capital restated a “buy” rating and issued a $74.00 price objective (up previously from $64.00) on shares of IperionX in a report on Wednesday, October 1st. Wall Street Zen downgraded IperionX from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.00.

IperionX Trading Up 5.3%

The firm has a 50-day moving average of $38.04 and a 200-day moving average of $39.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.99 and a quick ratio of 6.99.

Hedge Funds Weigh In On IperionX

A number of hedge funds have recently bought and sold shares of the business. Mariner LLC purchased a new stake in shares of IperionX during the 3rd quarter valued at about $599,000. Citadel Advisors LLC bought a new stake in IperionX in the 3rd quarter worth approximately $622,000. Van ECK Associates Corp purchased a new stake in IperionX during the 3rd quarter valued at $40,997,000. Private Advisor Group LLC bought a new position in shares of IperionX during the 3rd quarter valued at $405,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of IperionX in the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 2.76% of the company’s stock.

IperionX Company Profile

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.