Insider Buying: IperionX (NASDAQ:IPX) CEO Purchases 138,720 Shares

Key Points

• IperionX CEO Anastasios Arima bought 138,720 shares on July 10 at an average price of $3.58, spending about $496,618. After the purchase, he held 12,455,502 shares, a 1.13% increase in his position.
• Arima also bought 110,000 shares in late April at an average price of $4.49, indicating repeated insider buying over recent months.
• Wall Street sentiment is mostly positive, with five Buy ratings and one Sell, and a consensus target price of $60.33, while the stock was trading at $25.03 when the article was published.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) CEO Anastasios Arima acquired 138,720 shares of the stock in a transaction dated Friday, July 10th. The shares were bought at an average cost of $3.58 per share, for a total transaction of $496,617.60. Following the acquisition, the chief executive officer owned 12,455,502 shares in the company, valued at $44,590,697.16. The trade was a 1.13% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Anastasios Arima also recently made the following trade(s):

• On Tuesday, April 28th, Anastasios Arima acquired 110,000 shares of IperionX stock. The stock was bought at an average cost of $4.49 per share, for a total transaction of $493,900.00.

IperionX Price Performance

IPX opened at $25.03 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.00 and a current ratio of 4.03. The business has a 50 day moving average price of $34.28 and a 200 day moving average price of $37.50. IperionX Limited Sponsored ADR has a twelve month low of $21.66 and a twelve month high of $61.45.

Institutional Investors Weigh In On IperionX

Several hedge funds and other institutional investors have recently modified their holdings of IPX. Van ECK Associates Corp increased its position in IperionX by 61.0% during the fourth 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 boosted its holdings 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 purchasing an additional 49,645 shares during the period. Millennium Management LLC bought a new stake in IperionX in the 4th quarter valued at $4,249,000. Private Advisor Group LLC grew its position in IperionX by 69.9% in the 1st 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. Finally, Bank of America Corp DE grew its position in 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 purchasing an additional 14,467 shares during the last quarter. Institutional investors and hedge funds own 2.76% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on IPX shares. Alliance Global Partners reaffirmed a "buy" rating on shares of IperionX in a report on Tuesday, April 28th. BTIG Research lifted their target price on shares of IperionX from $40.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, June 5th. Roth Capital reissued a "buy" rating on shares of IperionX in a research report on Monday, June 8th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of IperionX in a report on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.33.

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.

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