IperionX Limited Sponsored ADR (NASDAQ:IPX) Sees Significant Growth in Short Interest

IperionX Limited Sponsored ADR (NASDAQ:IPX) saw a significant increase in short interest in March. As of March 31st, there was short interest totaling 855,255 shares, an increase of 39.8% from the March 15th total of 611,679 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily volume of 492,447 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IPX. Jones Financial Companies Lllp purchased a new stake in shares of IperionX in the third quarter valued at $36,000. Cape Investment Advisory Inc. acquired a new stake in IperionX in the 2nd quarter worth about $34,000. JPMorgan Chase & Co. purchased a new stake in IperionX in the 2nd quarter valued at about $66,000. State of Tennessee Department of Treasury acquired a new position in shares of IperionX during the 4th quarter valued at about $119,000. Finally, DV Equities LLC acquired a new position in shares of IperionX during the 4th quarter valued at about $178,000. Hedge funds and other institutional investors own 2.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research report on Thursday, January 22nd. B. Riley Financial lowered their price objective on shares of IperionX from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. BTIG Research initiated coverage on shares of IperionX in a report on Friday, March 27th. They set a “buy” rating and a $40.00 target price for the company. Roth Mkm restated a “buy” rating and set a $74.00 target price on shares of IperionX in a research report on Tuesday, January 20th. Finally, William Blair assumed coverage on shares of IperionX in a report on Tuesday, January 13th. They issued an “outperform” rating on the stock. Four equities research 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 “Moderate Buy” and a consensus target price of $55.33.

IperionX Stock Up 0.5%

IperionX stock traded up $0.17 during midday trading on Wednesday, reaching $33.72. 125,568 shares of the company were exchanged, compared to its average volume of 315,337. The firm’s 50-day simple moving average is $36.71 and its 200-day simple moving average is $40.71. IperionX has a 1 year low of $17.25 and a 1 year high of $61.45. The company has a current ratio of 4.03, a quick ratio of 4.00 and a debt-to-equity ratio of 0.03.

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

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.