BTIG Research Begins Coverage on IperionX (NASDAQ:IPX)

BTIG Research started coverage on shares of IperionX (NASDAQ:IPX) in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm set a “buy” rating and a $40.00 price target on the stock. BTIG Research’s price objective would suggest a potential upside of 72.79% from the company’s current price.

Other analysts have also recently issued reports about the company. William Blair started coverage on IperionX in a research report on Tuesday, January 13th. They issued an “outperform” rating for the company. B. Riley Financial decreased their target price on IperionX from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Roth Mkm reissued a “buy” rating and issued a $74.00 price target on shares of IperionX in a research note on Tuesday, January 20th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.33.

IperionX Trading Up 5.3%

Shares of IperionX stock opened at $23.15 on Friday. The firm has a 50-day simple moving average of $42.72 and a two-hundred day simple moving average of $42.18. The company has a current ratio of 4.03, a quick ratio of 4.00 and a debt-to-equity ratio of 0.03. IperionX has a fifty-two week low of $12.27 and a fifty-two week high of $61.45.

IperionX (NASDAQ:IPX) last announced its quarterly earnings results on Saturday, January 31st. The company reported ($0.50) earnings per share for the quarter. Equities research analysts forecast that IperionX will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On IperionX

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in IperionX in the 3rd quarter valued at $36,000. Cape Investment Advisory Inc. acquired a new stake in IperionX during the 2nd quarter worth $34,000. JPMorgan Chase & Co. purchased a new stake in shares of IperionX during the second quarter worth $66,000. State of Tennessee Department of Treasury purchased a new stake in shares of IperionX during the fourth quarter worth $119,000. Finally, Quadrature Capital Ltd raised its position in shares of IperionX by 42.8% in the fourth quarter. Quadrature Capital Ltd now owns 14,918 shares of the company’s stock valued at $540,000 after buying an additional 4,471 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.