IperionX (NASDAQ:IPX) Now Covered by Analysts at Jefferies Financial Group

Investment analysts at Jefferies Financial Group initiated coverage on shares of IperionX (NASDAQ:IPX) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $26.00 price target on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 21.89% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research report on Friday, July 17th. BTIG Research lifted their price target on shares of IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Finally, Roth Capital set a $53.00 target price on IperionX in a report on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.50.

IperionX Stock Up 2.9%

NASDAQ:IPX opened at $21.33 on Wednesday. The stock has a 50-day simple moving average of $23.81 and a 200-day simple moving average of $31.48. The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03. IperionX has a 1 year low of $20.05 and a 1 year high of $61.45.

Insider Activity at IperionX

In related news, Chairman Todd Hannigan purchased 300,000 shares of the business’s stock in a transaction dated Monday, July 13th. The stock was acquired 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 of the company’s stock, valued at $95,613,669.06. This trade represents a 1.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anastasios Arima purchased 138,720 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The shares were bought 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 owned 12,455,502 shares of the company’s stock, valued at approximately $44,590,697.16. This trade represents a 1.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 663,720 shares of company stock valued at $2,379,118.

Hedge Funds Weigh In On IperionX

Large investors have recently bought and sold shares of the company. Private Advisor Group LLC boosted its holdings in shares of IperionX by 69.9% in the first quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock valued at $1,643,000 after acquiring an additional 25,964 shares in the last quarter. Jane Street Group LLC lifted its position 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 purchasing an additional 23,591 shares during the period. Bank of America Corp DE boosted its holdings in IperionX by 69.0% in the 2nd quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock valued at $1,116,000 after purchasing an additional 14,467 shares in the last quarter. Citadel Advisors LLC purchased a new stake in IperionX in the 3rd quarter valued at approximately $622,000. Finally, Mariner LLC acquired a new position in IperionX during the 3rd quarter worth approximately $599,000. 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.