IperionX (NASDAQ:IPX) Trading 2.5% Higher – Time to Buy?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s stock price traded up 2.5% on Wednesday . The company traded as high as $42.83 and last traded at $42.21. 93,637 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 182,302 shares. The stock had previously closed at $41.18.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IPX shares. William Blair started coverage on shares of IperionX in a research report on Tuesday, January 13th. They set an “outperform” rating for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a research report on Thursday, January 22nd. Finally, Roth Mkm reaffirmed a “buy” rating and set a $74.00 price target on shares of IperionX in a research report on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

IperionX Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 6.99 and a quick ratio of 6.99. The company has a 50-day moving average price of $43.12 and a two-hundred day moving average price of $43.00.

Institutional Trading of IperionX

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cape Investment Advisory Inc. bought a new position in IperionX in the 2nd quarter valued at $34,000. Jones Financial Companies Lllp bought a new stake in IperionX during the third quarter valued at $36,000. JPMorgan Chase & Co. purchased a new position in IperionX during the second quarter worth about $66,000. State of Tennessee Department of Treasury purchased a new position in IperionX during the fourth quarter worth about $119,000. Finally, DV Equities LLC purchased a new stake in shares of IperionX in the 4th quarter valued at about $178,000. 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.