IperionX (NASDAQ:IPX) Trading 6% Higher – Here’s Why
by Doug Wharley · The Cerbat GemIperionX Limited Sponsored ADR (NASDAQ:IPX – Get Free Report)’s stock price traded up 6% during mid-day trading on Friday . The company traded as high as $59.14 and last traded at $59.0040. 111,448 shares traded hands during trading, a decline of 26% from the average session volume of 151,144 shares. The stock had previously closed at $55.65.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on IPX. Wall Street Zen lowered IperionX from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Roth Mkm reissued a “buy” rating and issued a $74.00 price target on shares of IperionX in a research note on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a report on Wednesday, October 8th. Finally, William Blair started coverage on IperionX in a report on Tuesday, January 13th. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.00.
Check Out Our Latest Stock Analysis on IperionX
IperionX Trading Up 7.7%
The stock’s 50 day moving average is $37.54 and its 200-day moving average is $41.28. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.99 and a quick ratio of 6.99.
Institutional Investors Weigh In On IperionX
A number of institutional investors have recently made changes to their positions in IPX. Thomist Capital Management LP bought a new stake in shares of IperionX during the second quarter valued at approximately $59,384,000. Van ECK Associates Corp bought a new position in IperionX in the 3rd quarter valued at approximately $40,997,000. Osaic Holdings Inc. boosted its stake in IperionX by 7.7% during the 2nd quarter. Osaic Holdings Inc. now owns 70,325 shares of the company’s stock valued at $2,215,000 after purchasing an additional 5,000 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of IperionX by 73.8% in the 2nd quarter. Jane Street Group LLC now owns 55,558 shares of the company’s stock worth $1,750,000 after purchasing an additional 23,591 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of IperionX by 69.0% in the second quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock worth $1,116,000 after purchasing an additional 14,467 shares during the last quarter. Hedge funds and other institutional investors own 2.76% of the company’s stock.
About IperionX
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.