IperionX (NASDAQ:IPX) Research Coverage Started at BTIG Research

BTIG Research assumed coverage on shares of IperionX (NASDAQ:IPX) in a report published on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $40.00 target price on the stock.

A number of other equities analysts also recently issued reports on IPX. B. Riley Financial cut their price target on shares of IperionX from $58.00 to $52.00 and set a “buy” rating for the company in a report on Friday, March 13th. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research report on Thursday, January 22nd. Roth Mkm reaffirmed a “buy” rating and issued a $74.00 target price on shares of IperionX in a report on Tuesday, January 20th. Finally, William Blair began coverage on shares of IperionX in a research report on Tuesday, January 13th. They set an “outperform” rating for the company. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, IperionX presently has a consensus rating of “Moderate Buy” and an average target price of $55.33.

IperionX Stock Performance

Shares of IPX stock opened at $23.15 on Friday. The business’s fifty day moving average price is $42.72 and its 200 day moving average price is $42.16. The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03. IperionX has a 1-year low of $12.27 and a 1-year high of $61.45.

IperionX (NASDAQ:IPX) last released its earnings results on Saturday, January 31st. The company reported ($0.50) EPS for the quarter. On average, sell-side analysts anticipate that IperionX will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IperionX

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC grew its stake in IperionX by 70.4% in the 1st quarter. Jane Street Group LLC now owns 31,967 shares of the company’s stock valued at $575,000 after acquiring an additional 13,207 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in IperionX during the second quarter worth about $66,000. Thomist Capital Management LP purchased a new stake in shares of IperionX in the second quarter valued at about $59,384,000. Bank of America Corp DE lifted its holdings in shares of IperionX by 69.0% in the second quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock valued at $1,116,000 after purchasing an additional 14,467 shares in the last quarter. Finally, Cape Investment Advisory Inc. acquired a new stake in shares of IperionX in the second quarter valued at approximately $34,000. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

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.