IperionX (NASDAQ:IPX) Sees Large Volume Increase – Should You Buy?

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) saw an uptick in trading volume on Friday . 152,707 shares were traded during mid-day trading, a decline of 11% from the previous session’s volume of 170,744 shares.The stock last traded at $35.4620 and had previously closed at $40.56.

Wall Street Analyst Weigh In

IPX has been the topic of a number of research reports. Roth Mkm restated a “buy” rating and set a $74.00 price target on shares of IperionX in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research report on Thursday, January 22nd. William Blair began coverage on IperionX in a report on Tuesday, January 13th. They set an “outperform” rating on the stock. Finally, B. Riley Financial dropped their target price on IperionX from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Friday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, IperionX presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

IperionX Price Performance

The firm has a fifty day moving average of $46.74 and a two-hundred day moving average of $43.65. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.04.

IperionX (NASDAQ:IPX) last announced its quarterly earnings results on Friday, January 30th. The company reported ($0.50) EPS for the quarter. As a group, equities research analysts expect that IperionX Limited Sponsored ADR will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new stake in shares of IperionX during the third quarter worth about $36,000. Cape Investment Advisory Inc. bought a new stake in shares of IperionX in the second quarter worth about $34,000. JPMorgan Chase & Co. purchased a new position in IperionX during the 2nd quarter valued at about $66,000. State of Tennessee Department of Treasury purchased a new position in IperionX during the 4th quarter valued at about $119,000. Finally, Quadrature Capital Ltd raised its position in IperionX by 42.8% during the 4th quarter. Quadrature Capital Ltd now owns 14,918 shares of the company’s stock valued at $540,000 after purchasing an additional 4,471 shares during the last quarter. 2.76% of the stock is owned by hedge funds and other institutional investors.

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.