IperionX (NASDAQ:IPX) Reaches New 1-Year Low - Should You Sell?

Key Points

• IperionX shares fell 4.4%, reaching a new 52-week low of $20.05 before closing at $20.64. The stock is trading below its 50-day and 200-day moving averages of $25.57 and $32.94, respectively.
• Analyst sentiment remains broadly positive: five analysts rate the stock Buy and one rates it Sell, producing a consensus “Moderate Buy” rating and an average price target of $53.33.
• Insiders have been buying shares, including substantial purchases by the chairman and CEO; insiders acquired 663,720 shares worth about $2.38 million over the past three months. Institutional ownership remains limited at 2.76%.

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) hit a new 52-week low during trading on Friday . The stock traded as low as $20.05 and last traded at $20.64, with a volume of 365989 shares. The stock had previously closed at $21.58.

Analyst Upgrades and Downgrades

Several research analysts have commented on IPX shares. Roth Capital set a $53.00 price objective on shares of IperionX in a report on Wednesday, August 5th. BTIG Research boosted their target price on 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 reissued a "buy" rating on shares of IperionX in a research note on Tuesday, April 28th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of IperionX in a report on Friday, July 17th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $53.33.

IperionX Stock Down 4.4%

The company has a 50-day simple moving average of $25.57 and a 200-day simple moving average of $32.94. 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 Buying and Selling

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 stock was bought at an average price of $3.59 per share, for a total transaction of $1,077,000.00. Following the acquisition, 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anastasios Arima acquired 138,720 shares of the business's stock in a transaction on Friday, July 10th. The stock was 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 directly owned 12,455,502 shares in the company, valued at $44,590,697.16. The trade was a 1.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 663,720 shares of company stock valued at $2,379,118 over the last three months.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its position in IperionX by 70.4% in the 1st quarter. Jane Street Group LLC now owns 31,967 shares of the company's stock valued at $575,000 after buying an additional 13,207 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of IperionX during the second quarter worth approximately $66,000. Bank of America Corp DE raised its stake in shares of IperionX by 69.0% during the second quarter. Bank of America Corp DE now owns 35,441 shares of the company's stock valued at $1,116,000 after acquiring an additional 14,467 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of IperionX during the third quarter valued at approximately $405,000. Finally, Citadel Advisors LLC purchased a new stake in shares of IperionX in the third quarter valued at approximately $622,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source