IperionX (NASDAQ:IPX) Stock Price Up 7.3% – Time to Buy?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s stock price was up 7.3% on Wednesday . The stock traded as high as $49.70 and last traded at $49.60. Approximately 247,302 shares were traded during trading, an increase of 116% from the average daily volume of 114,303 shares. The stock had previously closed at $46.24.

Wall Street Analysts Forecast Growth

Several research analysts have commented on IPX shares. William Blair assumed coverage on IperionX in a research report on Tuesday. They issued an “outperform” rating on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a report on Wednesday, October 8th. Wall Street Zen lowered IperionX from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Finally, Roth Capital reaffirmed a “buy” rating and issued a $74.00 price objective (up previously from $64.00) on shares of IperionX in a research report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

IperionX Stock Up 7.3%

The business has a fifty day moving average of $35.95 and a 200 day moving average of $40.55. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.04.

Institutional Trading of IperionX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in IperionX by 684.4% during the 2nd quarter. GAMMA Investing LLC now owns 957 shares of the company’s stock valued at $30,000 after acquiring an additional 835 shares during the last quarter. Cape Investment Advisory Inc. bought a new stake in shares of IperionX in the 2nd quarter worth about $34,000. Jones Financial Companies Lllp acquired a new stake in shares of IperionX in the 3rd quarter valued at about $36,000. JPMorgan Chase & Co. bought a new position in shares of IperionX during the second quarter worth about $66,000. Finally, Atlantic Union Bankshares Corp acquired a new position in IperionX in the second quarter worth about $220,000. 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.