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

Key Points

• Short interest jumped to 855,255 shares as of March 31, a 39.8% increase from March 15, equal to 2.5% of the stock and a 1.7 days-to-cover based on average daily volume.
• Analyst sentiment is largely positive—four Buys and one Sell—yielding a MarketBeat consensus of "Moderate Buy" and a consensus target price of $55.33 (individual targets range roughly $40–$74).
• Institutional activity has increased, with several funds initiating or adding positions—most notably VanEck's new ~$41M stake—and institutions now owning about 2.76% of the company.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) 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. Based on an average daily volume of 492,447 shares, the days-to-cover ratio is currently 1.7 days. Currently, 2.5% of the company's stock are short sold.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IPX shares. BTIG Research initiated coverage on shares of IperionX in a research note on Friday, March 27th. They issued a "buy" rating and a $40.00 price objective for the company. Weiss Ratings reissued a "sell (e+)" rating on shares of IperionX in a report on Thursday, January 22nd. Roth Mkm reissued a "buy" rating and issued a $74.00 target price on shares of IperionX in a research report on Tuesday, January 20th. B. Riley Financial dropped their price target on IperionX from $58.00 to $52.00 and set a "buy" rating on the stock in a research note on Friday, March 13th. Finally, William Blair started coverage on IperionX in a research note on Tuesday, January 13th. They issued an "outperform" rating for the company. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, IperionX currently has an average rating of "Moderate Buy" and a consensus target price of $55.33.

Institutional Trading of IperionX

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp purchased a new stake in IperionX in the 3rd quarter valued at approximately $40,997,000. Millennium Management LLC acquired a new stake in shares of IperionX during the 4th quarter valued at approximately $4,249,000. Jane Street Group LLC boosted its stake in shares of IperionX by 62.5% during the 4th quarter. Jane Street Group LLC now owns 129,020 shares of the company's stock worth $4,669,000 after acquiring an additional 49,645 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of IperionX by 69.0% during the 2nd quarter. Bank of America Corp DE now owns 35,441 shares of the company's stock worth $1,116,000 after acquiring an additional 14,467 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of IperionX in the 3rd quarter worth approximately $622,000. Hedge funds and other institutional investors own 2.76% of the company's stock.

IperionX Stock Performance

Shares of IPX traded up $0.17 during mid-day trading on Wednesday, hitting $33.72. 125,568 shares of the company's stock were exchanged, compared to its average volume of 315,337. The business's 50 day moving average is $36.71 and its two-hundred day moving average is $40.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.03 and a quick ratio of 4.00. IperionX has a fifty-two week low of $17.25 and a fifty-two week high of $61.45.

IperionX (NASDAQ:IPX - Get Free Report) last posted its quarterly earnings data on Saturday, January 31st. The company reported ($0.50) earnings per share for the quarter. On average, analysts expect that IperionX will post -0.08 earnings per share for the current year.

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.

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