IperionX (NASDAQ:IPX) Trading Down 7% – Here’s Why

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s stock price fell 7% during trading on Thursday . The company traded as low as $22.26 and last traded at $22.1250. 103,408 shares were traded during mid-day trading, a decline of 61% from the average session volume of 264,499 shares. The stock had previously closed at $23.80.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IPX. Alliance Global Partners reissued a “buy” rating on shares of IperionX in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a research note on Friday, July 17th. BTIG Research lifted their target price on IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Finally, Roth Capital 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 given a Sell rating to the company. According to data from MarketBeat, IperionX has a consensus rating of “Moderate Buy” and a consensus price target of $60.33.

IperionX Trading Down 7.8%

The firm’s fifty day moving average price is $31.90 and its two-hundred day moving average price is $36.79. The company has a current ratio of 4.03, a quick ratio of 4.00 and a debt-to-equity ratio of 0.03.

Insider Transactions at IperionX

In other news, CEO Anastasios Arima acquired 138,720 shares of IperionX stock in a transaction on Friday, July 10th. The stock was purchased at an average price of $3.58 per share, with a total value of $496,617.60. Following the completion of the purchase, the chief executive officer owned 12,455,502 shares of the company’s stock, valued at approximately $44,590,697.16. The trade was a 1.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Todd Hannigan acquired 300,000 shares of the firm’s stock in a transaction dated Monday, July 13th. The shares were purchased at an average price of $3.59 per share, with a total value of $1,077,000.00. Following the acquisition, the chairman owned 26,633,334 shares of the company’s stock, valued at approximately $95,613,669.06. This represents a 1.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 1,253,720 shares of company stock valued at $4,950,618 over the last ninety days.

Institutional Trading of IperionX

Several hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp grew its position in IperionX by 61.0% in 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 period. Jane Street Group LLC grew its holdings in shares of IperionX by 62.5% during the fourth quarter. Jane Street Group LLC now owns 129,020 shares of the company’s stock valued at $4,669,000 after buying an additional 49,645 shares during the last quarter. Millennium Management LLC acquired a new position in shares of IperionX during the fourth quarter valued at about $4,249,000. Private Advisor Group LLC increased its position in shares of IperionX by 69.9% during the first quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock worth $1,643,000 after acquiring an additional 25,964 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of IperionX by 69.0% in the 2nd quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock worth $1,116,000 after acquiring an additional 14,467 shares during the last quarter. Institutional investors and hedge funds own 2.76% of the company’s stock.

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.