IperionX (NASDAQ:IPX) Shares Gap Up - Here's What Happened

Key Points

• IperionX shares jumped at the open, rising from a prior close of $14.10 to $15.35; the stock was last quoted at $15.335.
• Analyst views are mixed: six rate the stock Buy and one Sell, producing a Moderate Buy consensus and a $42 average price target. Individual targets range from $26 to $53, while B. Riley recently cut its target to $34.
• The company reported a quarterly loss of $0.50 per share; analysts expect a loss of $0.34 per share for the current year.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) shares gapped up before the market opened on Monday. The stock had previously closed at $14.10, but opened at $15.35. IperionX shares last traded at $15.3350, with a volume of 25,221 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group began coverage on shares of IperionX in a report on Wednesday, September 2nd. They issued a "buy" rating and a $26.00 price objective on the stock. Roth Capital set a $53.00 price objective on shares of IperionX in a research report on Wednesday, August 5th. Weiss Ratings restated a "sell (e+)" rating on shares of IperionX in a research note on Thursday, October 15th. Finally, B. Riley Financial dropped their target price on IperionX from $52.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, September 30th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $42.00.

IperionX Trading Up 13.3%

The firm's 50-day moving average price is $17.29 and its 200 day moving average price is $29.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.95 and a current ratio of 3.24.

IperionX (NASDAQ:IPX - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.50) earnings per share for the quarter. As a group, analysts anticipate that IperionX Limited Sponsored ADR will post -0.34 EPS for the current year.

Institutional Investors Weigh In On IperionX

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in IperionX by 40.3% during the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company's stock worth $50,000 after purchasing an additional 483 shares during the last quarter. Connective Capital Management LLC acquired a new position in IperionX in the second quarter worth $160,000. DLD Asset Management LP acquired a new position in IperionX in the first quarter worth $260,000. Finally, Private Advisor Group LLC increased its stake in IperionX by 69.9% during 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 last quarter. 2.76% of the stock is currently owned by institutional investors.

About IperionX

IperionX Limited NASDAQ: IPX is a critical minerals and advanced materials company focused on producing low-carbon titanium products in the United States. The company is developing domestic sources of titanium minerals and technologies intended to convert titanium feedstocks into titanium metal, powder and other advanced materials.

IperionX's primary development asset is the Titan Project in Tennessee, which contains titanium, zircon and other heavy mineral sands. The company is also developing proprietary processing technologies, including the Hydrogen-Assisted Metallothermic Reduction (HAMR) process and the Titanium Alloy Production (TAP) process, with the goal of manufacturing titanium products using less energy than conventional production methods and incorporating recycled titanium where practical.

The company targets customers in industries such as aerospace, defense, medical devices, automotive, consumer products and additive manufacturing.

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