IperionX (NASDAQ:IPX) Reaches New 52-Week Low - Here's Why

Key Points

• IperionX shares fell 6.2% to a new 52-week low of $19.80, well below their 50-day and 200-day moving averages of $23.22 and $30.79, respectively.
• Wall Street remains broadly optimistic, with six Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $46.50; targets range from $26 to $55.
• Company insiders have recently shown confidence by purchasing 663,720 shares worth $2.38 million, while institutional and hedge-fund ownership remains limited at 2.76%.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $19.80 and last traded at $19.8860, with a volume of 44788 shares traded. The stock had previously closed at $21.29.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Jefferies Financial Group began coverage on shares of IperionX in a research note on Wednesday, September 2nd. They issued a "buy" rating and a $26.00 price objective for the company. BTIG Research increased their target price on shares of IperionX from $40.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, June 5th. Roth Capital set a $53.00 price target on shares of IperionX in a report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of IperionX in a research note on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $46.50.

IperionX Stock Down 6.2%

The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $23.22 and a 200 day simple moving average of $30.79.

Insider Buying and Selling

In other IperionX news, Chairman Todd Hannigan purchased 300,000 shares of IperionX stock in a transaction that occurred on Monday, July 13th. The stock was acquired at an average price of $3.59 per share, with a total value of $1,077,000.00. Following the transaction, the chairman owned 26,633,334 shares in the company, valued at $95,613,669.06. This trade represents a 1.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anastasios Arima purchased 138,720 shares of the firm's stock in a transaction on Friday, July 10th. The shares were acquired at an average price of $3.58 per share, with a total value of $496,617.60. Following the purchase, the chief executive officer directly owned 12,455,502 shares in the company, valued at $44,590,697.16. This represents a 1.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 663,720 shares of company stock worth $2,379,118 over the last ninety days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of IperionX by 40.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,681 shares of the company's stock worth $50,000 after acquiring an additional 483 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in IperionX during the 2nd quarter valued at about $66,000. State of Tennessee Department of Treasury acquired a new position in IperionX during the 4th quarter valued at about $119,000. Connective Capital Management LLC bought a new stake in IperionX during the 2nd quarter worth approximately $160,000. Finally, DV Equities LLC bought a new stake in IperionX during the 4th quarter worth approximately $178,000. 2.76% of the stock is currently owned by institutional investors and hedge funds.

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.

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.