B. Riley Financial Issues Pessimistic Forecast for IperionX (NASDAQ:IPX) Stock Price

IperionX (NASDAQ:IPX) had its price objective dropped by research analysts at B. Riley Financial from $58.00 to $52.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s target price points to a potential upside of 49.13% from the stock’s previous close.

Several other equities analysts also recently commented on IPX. William Blair initiated coverage on shares of IperionX in a research report on Tuesday, January 13th. They set an “outperform” rating on the stock. Roth Mkm reiterated a “buy” rating and set 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. Three 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, IperionX presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

IperionX Stock Down 14.0%

IPX stock opened at $34.87 on Friday. The firm has a 50 day moving average of $46.74 and a two-hundred day moving average of $43.65. IperionX has a 12 month low of $12.27 and a 12 month high of $61.45. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.99 and a quick ratio of 6.99.

IperionX (NASDAQ:IPX) last released its quarterly earnings results on Friday, January 30th. The company reported ($0.50) earnings per share for the quarter. On average, sell-side analysts predict that IperionX will post -0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IPX. Thomist Capital Management LP bought a new stake in IperionX during the second quarter valued at about $59,384,000. Van ECK Associates Corp increased its stake in shares of IperionX by 61.0% in the fourth quarter. Van ECK Associates Corp now owns 1,337,343 shares of the company’s stock worth $48,392,000 after purchasing an additional 506,612 shares during the period. Jane Street Group LLC increased its stake in shares of IperionX by 62.5% in the fourth quarter. Jane Street Group LLC now owns 129,020 shares of the company’s stock worth $4,669,000 after purchasing an additional 49,645 shares during the period. Millennium Management LLC acquired a new position in shares of IperionX during the 4th quarter worth about $4,249,000. Finally, Osaic Holdings Inc. boosted its stake in IperionX by 7.7% during the 2nd quarter. Osaic Holdings Inc. now owns 70,325 shares of the company’s stock valued at $2,215,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 2.76% of the company’s stock.

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.