B. Riley Financial Cuts IperionX (NASDAQ:IPX) Price Target to $52.00

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

IPX has been the subject of several other research reports. Roth Mkm reiterated a “buy” rating and set a $74.00 target price on shares of IperionX in a research note on Tuesday, January 20th. William Blair assumed coverage on shares of IperionX in a research note on Tuesday, January 13th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, IperionX has an average rating of “Moderate Buy” and an average price target of $63.00.

IperionX Price Performance

IperionX stock traded down $5.88 during mid-day trading on Friday, hitting $34.68. The stock 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 firm’s 50 day moving average is $46.84 and its 200 day moving average is $43.74.

IperionX (NASDAQ:IPX) last announced its quarterly earnings data on Friday, January 30th. The company reported ($0.50) EPS for the quarter. On average, sell-side analysts expect that IperionX will post -0.08 EPS for the current fiscal year.

Institutional Trading of IperionX

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp bought a new position in IperionX in the third quarter worth $36,000. Cape Investment Advisory Inc. acquired a new position in shares of IperionX in the 2nd quarter valued at $34,000. JPMorgan Chase & Co. bought a new position in shares of IperionX during the 2nd quarter worth about $66,000. State of Tennessee Department of Treasury bought a new stake in shares of IperionX in the 4th quarter worth about $119,000. Finally, DV Equities LLC bought a new stake in IperionX in the 4th quarter valued at $178,000. 2.76% of the stock is currently owned by institutional investors.

IperionX Company Profile

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.