IperionX (NASDAQ:IPX) Stock Jumps 6.4% - Should You Buy?

Key Points

• IperionX shares rose 6.4% to $13.90 in mid-day trading, although volume was 89% below the stock’s average daily level.
• Analyst sentiment is broadly positive, with six Buy ratings and one Sell rating producing a “Moderate Buy” consensus and a $42 average price target. However, targets vary widely, including B. Riley’s reduced target of $34 and Weiss Ratings’ “sell (e+)” assessment.
• The company reported a quarterly loss of $0.50 per share, while analysts expect a full-year loss of $0.13 per share. IperionX is developing low-carbon titanium production technologies and its Titan Project in Tennessee.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) rose 6.4% during mid-day trading on Tuesday. The company traded as high as $14.04 and last traded at $13.90. Approximately 29,612 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 275,239 shares. The stock had previously closed at $13.06.

Analyst Upgrades and Downgrades

Several research analysts recently commented on IPX shares. Roth Capital set a $53.00 target price on shares of IperionX in a report on Wednesday, August 5th. B. Riley Financial decreased their target price on shares of IperionX from $52.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, September 30th. Jefferies Financial Group initiated coverage on shares of IperionX in a research note on Wednesday, September 2nd. They issued a "buy" rating and a $26.00 price target on the stock. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of IperionX in a research report on Thursday, October 15th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

IperionX Trading Up 10.0%

The stock's fifty day moving average price is $18.56 and its 200-day moving average price is $31.04. The company has a quick ratio of 2.95, a current ratio of 3.24 and a debt-to-equity ratio of 0.04.

IperionX (NASDAQ:IPX - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.50) EPS for the quarter. As a group, equities analysts forecast that IperionX Limited Sponsored ADR will post -0.13 earnings per share for the current year.

Institutional Trading of IperionX

A number of hedge funds have recently modified their holdings of IPX. GAMMA Investing LLC increased its stake in shares of 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 period. Connective Capital Management LLC acquired a new position in IperionX in the 2nd quarter valued at $160,000. DLD Asset Management LP bought a new position in IperionX during the 1st quarter worth $260,000. Finally, Private Advisor Group LLC increased its position in IperionX by 69.9% during the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company's stock worth $1,643,000 after buying an additional 25,964 shares during the period. Institutional investors and hedge funds own 2.76% of the company's stock.

IperionX Company Profile

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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