IperionX (NASDAQ:IPX) Trading 8.1% Higher – Here’s Why

IperionX Limited Sponsored ADR (NASDAQ:IPX) traded up 8.1% during mid-day trading on Tuesday . The stock traded as high as $29.08 and last traded at $29.1170. 56,067 shares were traded during mid-day trading, a decline of 78% from the average session volume of 255,232 shares. The stock had previously closed at $26.94.

Analyst Upgrades and Downgrades

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

IperionX Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 4.03 and a quick ratio of 4.00. The firm’s 50-day simple moving average is $34.96 and its 200 day simple moving average is $37.94.

Insider Activity at IperionX

In other news, Chairman Todd Hannigan acquired 260,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The shares were acquired at an average price of $4.20 per share, for a total transaction of $1,092,000.00. Following the completion of the purchase, the chairman owned 26,108,334 shares in the company, valued at approximately $109,655,002.80. This trade represents a 1.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Anastasios Arima acquired 110,000 shares of IperionX stock in a transaction on Tuesday, April 28th. The shares were purchased at an average cost of $4.49 per share, with a total value of $493,900.00. Following the completion of the acquisition, the chief executive officer owned 12,316,782 shares of the company’s stock, valued at $55,302,351.18. This trade represents a 0.90% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 590,000 shares of company stock valued at $2,571,500.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IPX. Van ECK Associates Corp grew its stake 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 worth $48,392,000 after acquiring an additional 506,612 shares during the period. Jane Street Group LLC raised its stake in IperionX by 62.5% in the 4th quarter. Jane Street Group LLC now owns 129,020 shares of the company’s stock valued at $4,669,000 after acquiring an additional 49,645 shares during the period. Millennium Management LLC purchased a new stake in IperionX during the fourth quarter valued at about $4,249,000. Private Advisor Group LLC lifted its holdings 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 purchasing an additional 25,964 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in IperionX by 69.0% during the second quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock worth $1,116,000 after purchasing an additional 14,467 shares during the period. Hedge funds and other institutional investors own 2.76% of the company’s stock.

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.