IperionX (NASDAQ:IPX) Sets New 52-Week Low – What’s Next?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s stock price reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $15.32 and last traded at $15.3450, with a volume of 58,986 shares changing hands. The stock had previously closed at $15.83.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IPX shares. Jefferies Financial Group initiated coverage on IperionX in a research note on Wednesday, September 2nd. They set a “buy” rating and a $26.00 price objective on the stock. B. Riley Financial dropped their price target on shares of IperionX from $52.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, September 30th. Roth Capital set a $53.00 price target on shares of IperionX in a research note on Wednesday, August 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a research report on Friday, July 17th. Six 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, IperionX has a consensus rating of “Moderate Buy” and an average target price of $42.00.

IperionX Stock Up 7.9%

The company has a quick ratio of 2.95, a current ratio of 3.24 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $20.78 and its 200-day simple moving average is $27.31.

IperionX (NASDAQ:IPX) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.50) EPS for the quarter. On average, research analysts forecast that IperionX Limited Sponsored ADR will post -0.13 EPS for the current fiscal year.

Insider Activity at IperionX

In related news, Chairman Todd Hannigan acquired 300,000 shares of the stock in a transaction that occurred on Monday, July 13th. The stock was acquired at an average cost of $3.59 per share, for a total transaction of $1,077,000.00. Following the transaction, the chairman directly owned 26,633,334 shares in the company, valued at $95,613,669.06. This trade represents a 1.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On IperionX

Several hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC boosted its stake in shares of IperionX by 69.9% in 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 last quarter. Connective Capital Management LLC bought a new position in IperionX during the second quarter worth $160,000. GAMMA Investing LLC lifted its holdings in IperionX by 40.3% in the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock valued at $50,000 after buying an additional 483 shares during the period. DLD Asset Management LP acquired a new position in IperionX in the first quarter valued at $260,000. Finally, Corigliano Investment Advisers LLC bought a new stake in IperionX during the fourth quarter valued at $362,000. 2.76% of the stock is currently owned by institutional investors and hedge funds.

IperionX Company Profile

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.