IperionX (NASDAQ:IPX) Chairman Todd Hannigan Buys 220,000 Shares

Key Points

• Todd Hannigan, IperionX chairman, made two insider purchases—220,000 shares on April 28 at $4.48 and 260,000 shares on April 29 at $4.20—totaling 480,000 shares (~$2.08M) and raising his stake to 25,848,334 shares (a 0.86% ownership increase).
• IperionX shares jumped 13.9% to $33.08, and analysts maintain a consensus "Moderate Buy" (five Buy, one Sell) with an average price target of $55.33.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) Chairman Todd Hannigan acquired 220,000 shares of the firm's stock in a transaction on Tuesday, April 28th. The shares were acquired at an average price of $4.48 per share, with a total value of $985,600.00. Following the completion of the purchase, the chairman owned 25,848,334 shares of the company's stock, valued at $115,800,536.32. This trade represents a 0.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Todd Hannigan also recently made the following trade(s):

• On Wednesday, April 29th, Todd Hannigan acquired 260,000 shares of IperionX stock. The shares were bought at an average price of $4.20 per share, for a total transaction of $1,092,000.00.

IperionX Trading Up 13.9%

Shares of NASDAQ IPX traded up $4.03 on Thursday, hitting $33.08. The company had a trading volume of 259,401 shares, compared to its average volume of 231,422. IperionX Limited Sponsored ADR has a 12-month low of $19.43 and a 12-month high of $61.45. The business has a 50 day moving average of $34.48 and a two-hundred day moving average of $39.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.03 and a quick ratio of 4.00.

IperionX (NASDAQ:IPX - Get Free Report) last announced its earnings results on Saturday, January 31st. The company reported ($0.50) EPS for the quarter. As a group, research analysts predict that IperionX Limited Sponsored ADR will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IPX shares. Alliance Global Partners reaffirmed a "buy" rating on shares of IperionX in a report on Tuesday. William Blair initiated coverage on shares of IperionX in a report on Tuesday, January 13th. They issued an "outperform" rating on the stock. Roth Mkm reissued a "buy" rating and issued a $74.00 price objective on shares of IperionX in a research report on Tuesday, January 20th. BTIG Research assumed coverage on IperionX in a research report on Friday, March 27th. They set a "buy" rating and a $40.00 target price on the stock. Finally, B. Riley Financial cut their price target on IperionX from $58.00 to $52.00 and set a "buy" rating on the stock in a research note on Friday, March 13th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, IperionX currently has an average rating of "Moderate Buy" and a consensus price target of $55.33.

Institutional Trading of IperionX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp bought a new position in IperionX during the 3rd quarter valued at $36,000. JPMorgan Chase & Co. acquired a new stake in shares of IperionX in the 2nd quarter valued at about $66,000. State of Tennessee Department of Treasury acquired a new stake in shares of IperionX in the 4th quarter valued at about $119,000. DV Equities LLC bought a new position in shares of IperionX during the fourth quarter worth about $178,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of IperionX during the third quarter worth about $297,000. 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.

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