IperionX (NASDAQ:IPX) Shares Gap Down - What's Next?

Key Points

• IperionX shares gapped down premarket, opening at $23.47 after a $24.70 close and last trading around $22.66, putting the stock approximately down 11.2% on the session with ~60,200 shares changing hands.
• Analyst coverage is mixed but tilted positive: three analysts rate the stock a Buy and one a Sell, giving a consensus rating of "Moderate Buy" and a consensus target price of $63 (individual targets range from $52 to $74).
• The company shows strong liquidity (quick ratio 4.00, current ratio 4.03) and very low leverage (debt/equity 0.03), but recently reported a -$0.50 EPS quarter and analysts expect -$0.08 EPS for the year, with institutional ownership only about 2.76%.

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $24.70, but opened at $23.47. IperionX shares last traded at $22.6640, with a volume of 60,207 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IPX. William Blair started coverage on IperionX in a report on Tuesday, January 13th. They set an "outperform" rating on the stock. B. Riley Financial decreased their target price on IperionX from $58.00 to $52.00 and set a "buy" rating for the company in a research report on Friday, March 13th. Roth Mkm reissued a "buy" rating and issued a $74.00 price target on shares of IperionX in a report on Tuesday, January 20th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of IperionX in a research report on Thursday, January 22nd. Three investment 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, IperionX currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

IperionX Trading Down 11.2%

The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $43.69 and a 200 day moving average of $42.50.

IperionX (NASDAQ:IPX - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The company reported ($0.50) EPS for the quarter. On average, analysts predict that IperionX Limited Sponsored ADR will post -0.08 earnings per share for the current year.

Institutional Trading of IperionX

A number of institutional investors have recently modified their holdings of IPX. Jones Financial Companies Lllp bought a new position in IperionX in the 3rd quarter worth approximately $36,000. Cape Investment Advisory Inc. purchased a new stake in shares of IperionX during the second quarter worth $34,000. JPMorgan Chase & Co. purchased a new stake in shares of IperionX during the second quarter worth $66,000. State of Tennessee Department of Treasury bought a new position in shares of IperionX in the fourth quarter worth $119,000. Finally, DV Equities LLC purchased a new position in shares of IperionX in the fourth quarter valued at $178,000. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

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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