IperionX (NASDAQ:IPX) Shares Down 6.3% – Should You Sell?

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) fell 6.3% on Thursday . The company traded as low as $20.30 and last traded at $20.21. 46,385 shares traded hands during trading, a decline of 82% from the average daily volume of 262,003 shares. The stock had previously closed at $21.58.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on IPX shares. BTIG Research increased their price objective on shares of IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Alliance Global Partners reaffirmed a “buy” rating on shares of IperionX in a research report on Tuesday, April 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a report on Friday, July 17th. Finally, Roth Capital set a $53.00 price target on IperionX in a report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

IperionX Trading Up 9.0%

The firm has a fifty day simple moving average of $25.30 and a 200-day simple moving average of $32.87. 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 Buying and Selling

In related news, CEO Anastasios Arima purchased 138,720 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The shares were purchased at an average cost of $3.58 per share, with a total value of $496,617.60. Following the completion of the acquisition, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Todd Hannigan acquired 300,000 shares of IperionX stock in a transaction on Monday, July 13th. The shares were bought at an average price of $3.59 per share, for a total transaction of $1,077,000.00. Following the completion of the purchase, the chairman directly owned 26,633,334 shares in the company, valued at $95,613,669.06. The trade was a 1.14% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 663,720 shares of company stock valued at $2,379,118 in the last three months.

Institutional Investors Weigh In On IperionX

Several hedge funds and other institutional investors have recently modified their holdings of IPX. Private Advisor Group LLC lifted 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 purchasing an additional 25,964 shares during the last quarter. Jane Street Group LLC increased its holdings in IperionX by 73.8% in the second quarter. Jane Street Group LLC now owns 55,558 shares of the company’s stock valued at $1,750,000 after buying an additional 23,591 shares during the last quarter. Bank of America Corp DE increased its holdings in 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 buying an additional 14,467 shares during the last quarter. Citadel Advisors LLC acquired a new stake in IperionX during the third quarter valued at approximately $622,000. Finally, Quadrature Capital Ltd raised its stake in IperionX by 42.8% during the fourth quarter. Quadrature Capital Ltd now owns 14,918 shares of the company’s stock valued at $540,000 after buying an additional 4,471 shares in the last quarter. Institutional investors 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.