IperionX (NASDAQ:IPX) Trading Down 6.3% - Should You Sell?

Key Points

• IperionX shares fell 6.3% to $20.21 in Thursday trading, with volume down 82% from the stock’s average daily volume.
• Analyst sentiment remains broadly positive: five analysts rate the stock a Buy and one rates it a Sell, producing a consensus “Moderate Buy” rating and an average price target of $53.33.
• Insiders bought 663,720 shares worth about $2.38 million over the past three months, while institutional investors own a relatively small 2.76% stake.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) fell 6.3% during trading on Thursday . The company traded as low as $20.30 and last traded at $20.21. Approximately 46,385 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 262,003 shares. The stock had previously closed at $21.58.

Analysts Set New Price Targets

Several brokerages recently commented on IPX. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of IperionX in a research report on Friday, July 17th. BTIG Research boosted their price target on shares of IperionX from $40.00 to $55.00 and gave the company a "buy" rating in a report on Friday, June 5th. Roth Capital set a $53.00 price objective on shares of IperionX in a research note on Wednesday, August 5th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of IperionX in a report on Tuesday, April 28th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.33.

IperionX Stock Performance

The company's 50 day moving average price is $25.89 and its 200 day moving average price is $33.15. The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03.

Insider Activity

In other news, CEO Anastasios Arima bought 138,720 shares of the business's stock in a transaction dated Friday, July 10th. The stock was bought at an average price of $3.58 per share, for a total transaction of $496,617.60. Following the completion of the purchase, the chief executive officer owned 12,455,502 shares of the company's stock, valued at approximately $44,590,697.16. The trade was a 1.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Todd Hannigan bought 300,000 shares of the business's stock in a transaction dated Monday, July 13th. The stock was purchased at an average price of $3.59 per share, with a total value of $1,077,000.00. Following the purchase, the chairman directly owned 26,633,334 shares of the company's stock, valued at $95,613,669.06. The trade was a 1.14% increase in their position. 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.

Hedge Funds Weigh In On IperionX

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings 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 purchasing an additional 483 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of IperionX in the second quarter valued at $66,000. State of Tennessee Department of Treasury bought a new position in shares of IperionX in the fourth quarter valued at about $119,000. Quadrature Capital Ltd raised its holdings in shares of IperionX by 42.8% in the fourth quarter. Quadrature Capital Ltd now owns 14,918 shares of the company's stock valued at $540,000 after buying an additional 4,471 shares during the last quarter. Finally, DV Equities LLC acquired a new position in IperionX during the 4th quarter worth about $178,000. 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.

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