IperionX Limited Sponsored ADR (NASDAQ:IPX) Stock Has Average Price Target of $42.00 According to Analysts

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $42.00.

Several brokerages have commented on IPX. Roth Capital set a $53.00 price target on IperionX in a report on Wednesday, August 5th. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research note on Thursday. B. Riley Financial decreased their price objective on shares of IperionX from $52.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, September 30th. Finally, Jefferies Financial Group assumed coverage on shares of IperionX in a report on Wednesday, September 2nd. They set a “buy” rating and a $26.00 price objective for the company.

IperionX Trading Down 4.1%

IPX opened at $13.62 on Tuesday. The stock has a 50-day moving average of $19.64 and a 200-day moving average of $26.93. IperionX has a 52-week low of $13.14 and a 52-week high of $61.45. The company has a current ratio of 3.24, a quick ratio of 2.95 and a debt-to-equity ratio of 0.04.

IperionX (NASDAQ:IPX) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.50) earnings per share for the quarter. Equities analysts forecast that IperionX will post -0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IperionX

A number of hedge funds have recently bought and sold shares of IPX. Connective Capital Management LLC bought a new position in shares of IperionX in the second quarter worth about $160,000. GAMMA Investing LLC lifted its position in shares of IperionX by 40.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock worth $50,000 after purchasing an additional 483 shares during the last quarter. DLD Asset Management LP bought a new stake in IperionX during the 1st quarter valued at approximately $260,000. Private Advisor Group LLC boosted its stake in IperionX by 69.9% during the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock valued at $1,643,000 after purchasing an additional 25,964 shares during the period. Finally, Corigliano Investment Advisers LLC bought a new stake in IperionX during the 4th quarter valued at approximately $362,000. 2.76% of the stock is currently owned by institutional investors.

About IperionX

IperionX Limited (NASDAQ: IPX) is a materials technology company focused on developing a U.S.-based, lower-carbon titanium supply chain. The company is working to produce titanium metal, powder and other titanium products for aerospace, defense, automotive, medical and other advanced manufacturing applications.

IperionX is developing its Titan Project in Tennessee, which is designed to supply titanium minerals and support domestic production of titanium products. The project is intended to integrate the processing of titanium mineral resources with downstream manufacturing, reducing reliance on overseas sources of titanium.

The company is also advancing proprietary processing technologies, including its Hydrogen Assisted Metallothermic Reduction process, which is designed to produce titanium metal and powder with lower energy requirements than conventional methods.