IperionX (NASDAQ:IPX) Shares Gap Up – What’s Next?

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) gapped up before the market opened on Friday . The stock had previously closed at $31.76, but opened at $33.13. IperionX shares last traded at $33.3650, with a volume of 36,495 shares.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IPX shares. Wall Street Zen cut IperionX from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research report on Wednesday, October 8th. Finally, Roth Capital reiterated a “buy” rating and set a $74.00 target price (up from $64.00) on shares of IperionX in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.00.

IperionX Stock Up 4.2%

The stock’s 50 day moving average is $38.96 and its two-hundred day moving average is $39.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.99 and a current ratio of 6.99.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Thomist Capital Management LP bought a new position in IperionX during the second quarter worth about $59,384,000. Atlantic Union Bankshares Corp bought a new position in IperionX during the 2nd quarter worth approximately $220,000. OLD Mission Capital LLC bought a new stake in IperionX in the first quarter valued at approximately $477,000. GAMMA Investing LLC raised its holdings in IperionX by 684.4% in the second quarter. GAMMA Investing LLC now owns 957 shares of the company’s stock worth $30,000 after purchasing an additional 835 shares during the period. Finally, Citadel Advisors LLC bought a new position in shares of IperionX during the third quarter worth $622,000. 2.76% of the stock is currently owned by institutional investors.

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.