IperionX (NASDAQ:IPX) Shares Down 5.5% – Should You Sell?

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) traded down 5.5% during trading on Wednesday . The company traded as low as $21.39 and last traded at $21.2550. 51,311 shares changed hands during trading, a decline of 80% from the average session volume of 262,146 shares. The stock had previously closed at $22.50.

Wall Street Analyst Weigh In

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

IperionX Stock Down 6.1%

The firm’s 50-day moving average price is $24.85 and its 200 day moving average price is $32.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.00 and a current ratio of 4.03.

Insider Transactions at IperionX

In other IperionX news, Chairman Todd Hannigan acquired 300,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were acquired at an average price of $3.59 per share, with a total value of $1,077,000.00. Following the purchase, the chairman owned 26,633,334 shares of the company’s stock, valued at $95,613,669.06. This represents a 1.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anastasios Arima purchased 138,720 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were acquired at an average cost of $3.58 per share, for a total transaction of $496,617.60. Following the transaction, the chief executive officer owned 12,455,502 shares of the company’s stock, valued at $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. In the last 90 days, insiders have acquired 663,720 shares of company stock worth $2,379,118.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in shares of IperionX by 40.3% during the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock worth $50,000 after acquiring an additional 483 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in IperionX in the 2nd quarter valued at $66,000. State of Tennessee Department of Treasury acquired a new position in IperionX in the 4th quarter worth $119,000. DV Equities LLC bought a new position in IperionX during the 4th quarter worth about $178,000. Finally, Man Group plc bought a new position in shares of IperionX during the fourth quarter worth about $257,000. 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.