IperionX (NASDAQ:IPX) Trading Down 14.5% on Analyst Downgrade

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s stock price dropped 14.5% during mid-day trading on Monday after B. Riley Financial lowered their price target on the stock from $58.00 to $52.00. B. Riley Financial currently has a buy rating on the stock. IperionX traded as low as $29.73 and last traded at $29.80. Approximately 188,646 shares were traded during mid-day trading, an increase of 6% from the average daily volume of 177,469 shares. The stock had previously closed at $34.87.

Several other research analysts also recently weighed in on IPX. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research note on Thursday, January 22nd. William Blair started coverage on shares of IperionX in a research note on Tuesday, January 13th. They set an “outperform” rating on the stock. Finally, Roth Mkm reiterated a “buy” rating and issued a $74.00 price objective on shares of IperionX in a report on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Hedge Funds Weigh In On IperionX

A number of institutional investors have recently made changes to their positions in IPX. Jones Financial Companies Lllp purchased a new position in shares of IperionX during the 3rd quarter valued at approximately $36,000. Cape Investment Advisory Inc. bought a new stake in shares of IperionX in the second quarter worth $34,000. JPMorgan Chase & Co. bought a new stake in shares of IperionX in the second quarter worth $66,000. State of Tennessee Department of Treasury acquired a new stake in IperionX in the fourth quarter valued at $119,000. Finally, DV Equities LLC bought a new position in IperionX during the 4th quarter valued at $178,000. 2.76% of the stock is owned by institutional investors and hedge funds.

IperionX Stock Performance

The company has a current ratio of 4.03, a quick ratio of 4.00 and a debt-to-equity ratio of 0.03. The stock’s 50 day simple moving average is $46.48 and its 200 day simple moving average is $43.53.

IperionX (NASDAQ:IPX) last released its earnings results on Friday, January 30th. The company reported ($0.50) earnings per share for the quarter. On average, research analysts expect that IperionX Limited Sponsored ADR will post -0.08 EPS for the current fiscal year.

IperionX Company Profile

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.