IperionX (NASDAQ:IPX) Shares Up 5.1% – Time to Buy?

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) shot up 5.1% during trading on Friday . The company traded as high as $23.39 and last traded at $23.09. 62,426 shares traded hands during trading, a decline of 73% from the average session volume of 231,885 shares. The stock had previously closed at $21.98.

Analysts Set New Price Targets

Several research firms have commented on IPX. Roth Mkm reissued a “buy” rating and issued a $74.00 price objective on shares of IperionX in a research report on Tuesday, January 20th. BTIG Research initiated coverage on shares of IperionX in a report on Friday. They set a “buy” rating and a $40.00 target price for the company. William Blair began coverage on shares of IperionX in a research note on Tuesday, January 13th. They issued an “outperform” rating on the stock. B. Riley Financial lowered their price target on shares of IperionX from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research report on Thursday, January 22nd. Four equities 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.33.

IperionX Trading Up 5.3%

The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $42.72 and a 200 day simple moving average of $42.18.

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

Institutional Trading of IperionX

Institutional investors have recently bought and sold shares of the business. State of Tennessee Department of Treasury acquired a new position in shares of IperionX during the 4th quarter worth approximately $119,000. XTX Topco Ltd bought a new position in shares of IperionX during the fourth quarter worth approximately $302,000. 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 in the last quarter. Millennium Management LLC acquired a new stake in shares of IperionX in the fourth quarter valued at approximately $4,249,000. Finally, Man Group plc bought a new stake in shares of IperionX in the fourth quarter valued at approximately $257,000. 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.