IperionX (NASDAQ:IPX) Shares Gap Down – What’s Next?

IperionX Limited Sponsored ADR (NASDAQ:IPX) shares gapped down before the market opened on Thursday . The stock had previously closed at $27.70, but opened at $26.48. IperionX shares last traded at $26.3150, with a volume of 67,101 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Roth Mkm reaffirmed a “buy” rating on shares of IperionX in a research report on Monday, June 8th. Alliance Global Partners restated a “buy” rating on shares of IperionX in a research note on Tuesday, April 28th. BTIG Research upped their price target on IperionX from $40.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a research report on Tuesday, April 21st. Finally, B. Riley Financial reduced their price objective on IperionX from $58.00 to $52.00 and set a “buy” rating for the company in a report on Friday, March 13th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, IperionX presently has an average rating of “Moderate Buy” and an average target price of $60.33.

IperionX Stock Performance

The company has a current ratio of 4.03, a quick ratio of 4.00 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average is $35.38 and its two-hundred day moving average is $38.10.

Insiders Place Their Bets

In other news, Chairman Todd Hannigan acquired 260,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was bought at an average price of $4.20 per share, with a total value of $1,092,000.00. Following the completion of the acquisition, the chairman directly owned 26,108,334 shares of the company’s stock, valued at approximately $109,655,002.80. The trade was a 1.01% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anastasios Arima acquired 110,000 shares of IperionX stock in a transaction that occurred on Tuesday, April 28th. The shares were purchased at an average price of $4.49 per share, with a total value of $493,900.00. Following the transaction, the chief executive officer owned 12,316,782 shares of the company’s stock, valued at $55,302,351.18. The trade was a 0.90% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 590,000 shares of company stock valued at $2,571,500.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of IperionX by 61.0% during the 4th quarter. Van ECK Associates Corp now owns 1,337,343 shares of the company’s stock valued at $48,392,000 after purchasing an additional 506,612 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of IperionX by 62.5% in the fourth quarter. Jane Street Group LLC now owns 129,020 shares of the company’s stock worth $4,669,000 after buying an additional 49,645 shares during the last quarter. Millennium Management LLC bought a new stake in IperionX during the fourth quarter valued at approximately $4,249,000. Private Advisor Group LLC grew its position in IperionX by 69.9% during the first quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock valued at $1,643,000 after buying an additional 25,964 shares during the period. Finally, Bank of America Corp DE increased its holdings in IperionX by 69.0% during the second quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock valued at $1,116,000 after buying an additional 14,467 shares during the last quarter. 2.76% of the stock is 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.