IperionX (NASDAQ:IPX) Price Target Cut to $52.00 by Analysts at B. Riley Financial

IperionX (NASDAQ:IPX) had its price objective reduced by equities research analysts at B. Riley Financial from $58.00 to $52.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial’s target price would indicate a potential upside of 49.95% from the company’s current price.

Several other equities analysts have also commented on IPX. William Blair began coverage on shares of IperionX in a report on Tuesday, January 13th. They issued an “outperform” rating on the stock. Roth Mkm reissued a “buy” rating and issued a $74.00 price objective on shares of IperionX in a research note on Tuesday, January 20th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.00.

IperionX Stock Down 14.5%

Shares of IPX stock traded down $5.88 during trading on Friday, hitting $34.68. The company had a trading volume of 429,096 shares, compared to its average volume of 177,139. IperionX has a one year low of $12.27 and a one year high of $61.45. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average price is $46.84 and its 200 day moving average price is $43.74.

IperionX (NASDAQ:IPX) last announced its quarterly earnings data on Friday, January 30th. The company reported ($0.50) earnings per share for the quarter. Analysts forecast that IperionX will post -0.08 EPS for the current fiscal year.

Institutional Trading of IperionX

Several hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp bought a new position in IperionX during the 3rd quarter worth approximately $36,000. Cape Investment Advisory Inc. purchased a new position in IperionX during the second quarter valued at $34,000. JPMorgan Chase & Co. bought a new stake in IperionX in the second quarter worth $66,000. State of Tennessee Department of Treasury purchased a new stake in shares of IperionX in the fourth quarter worth $119,000. Finally, Quadrature Capital Ltd raised its position in shares of IperionX by 42.8% in the 4th quarter. Quadrature Capital Ltd now owns 14,918 shares of the company’s stock worth $540,000 after purchasing an additional 4,471 shares during the last quarter. Institutional investors and hedge funds 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.