IperionX (NASDAQ:IPX) Shares Down 5.5% - Should You Sell?

Key Points

• IperionX shares fell 5.5% to about $21.26 in mid-day trading, with volume roughly 80% below the average daily level.
• Analyst sentiment remains broadly positive: five analysts rate the stock a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $53.33.
• Company insiders bought 663,720 shares worth approximately $2.38 million over the past three months, while institutional ownership stands at 2.76%; IperionX is developing high-purity titanium and zirconium products through its Stony Creek Project in Virginia.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) shares dropped 5.5% during mid-day trading on Wednesday . The company traded as low as $21.39 and last traded at $21.2550. Approximately 51,311 shares were traded during trading, a decline of 80% from the average daily volume of 262,146 shares. The stock had previously closed at $22.50.

Wall Street Analysts Forecast Growth

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

IperionX Stock Down 6.1%

The company's 50 day moving average price is $24.85 and its 200 day moving average price is $32.39. 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 at IperionX

In other IperionX news, Chairman Todd Hannigan acquired 300,000 shares of the company's stock in a transaction dated Monday, July 13th. The stock was acquired at an average cost 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 in the company, valued at approximately $95,613,669.06. This trade represents a 1.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Anastasios Arima bought 138,720 shares of the business's stock in a transaction that occurred on Friday, July 10th. The stock was purchased at an average cost 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. The trade was a 1.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 663,720 shares of company stock worth $2,379,118 in the last three months.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of IperionX by 61.0% in 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 in the last quarter. Jane Street Group LLC grew its holdings in IperionX by 62.5% during the 4th quarter. Jane Street Group LLC now owns 129,020 shares of the company's stock worth $4,669,000 after acquiring an additional 49,645 shares in the last quarter. Millennium Management LLC acquired a new position in IperionX in the fourth quarter worth about $4,249,000. Private Advisor Group LLC boosted its holdings in IperionX by 69.9% in the first 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 period. Finally, Bank of America Corp DE boosted its stake in IperionX by 69.0% in 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 during the period. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

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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