IperionX (NASDAQ:IPX) Shares Down 5% – Time to Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s stock price was down 5% on Tuesday. The company traded as low as $14.75 and last traded at $14.8350. 56,558 shares changed hands during trading, a decline of 79% from the average session volume of 274,000 shares. The stock had previously closed at $15.62.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group started coverage on IperionX in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $26.00 target price on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research report on Friday, July 17th. Roth Capital set a $53.00 price target on IperionX in a research report on Wednesday, August 5th. Finally, B. Riley Financial dropped their price objective on IperionX from $52.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, September 30th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.00.

IperionX Stock Down 4.8%

The company has a quick ratio of 2.95, a current ratio of 3.24 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average price is $20.29 and its 200 day moving average price is $27.14.

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

Institutional Trading of IperionX

A number of large investors have recently modified their holdings of the stock. Private Advisor Group LLC boosted its holdings in IperionX by 69.9% in the first quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock valued at $1,643,000 after purchasing an additional 25,964 shares during the period. Connective Capital Management LLC acquired a new position in IperionX during the 2nd quarter worth $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 worth $50,000 after purchasing an additional 483 shares in the last quarter. DLD Asset Management LP purchased a new stake in IperionX during the 1st quarter worth about $260,000. Finally, Corigliano Investment Advisers LLC purchased a new stake in IperionX during the 4th quarter worth about $362,000. Hedge funds and other institutional investors own 2.76% of the company’s stock.

About IperionX

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.