IperionX (NASDAQ:IPX) Shares Down 7.7% - What's Next?

Key Points

• IperionX shares fell 7.7% to $15.53, with trading volume down 82% from the average session. The stock remains below its 50-day and 200-day moving averages of $21.52 and $27.87, respectively.
• Analyst sentiment remains broadly positive: six analysts rate the stock Buy and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $42.00. Recent targets range from $26 to $55.
• Company insiders purchased 663,720 shares worth approximately $2.38 million over the past 90 days, while institutional investors and hedge funds own just 2.76% of the stock.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) shares dropped 7.7% during trading on Thursday. The company traded as low as $15.65 and last traded at $15.53. Approximately 50,543 shares traded hands during trading, a decline of 82% from the average session volume of 273,240 shares. The stock had previously closed at $16.82.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BTIG Research raised their price target 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. Jefferies Financial Group started coverage on shares of IperionX in a research note on Wednesday, September 2nd. They set a "buy" rating and a $26.00 price objective on the stock. B. Riley Financial decreased their target price on shares of IperionX from $52.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday. Roth Capital set a $53.00 target price on shares of IperionX in a research note on Wednesday, August 5th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of IperionX in a research note on Friday, July 17th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.00.

IperionX Stock Performance

The stock has a fifty day moving average of $21.52 and a two-hundred day moving average of $27.87. 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 quarterly earnings results on Thursday, July 30th. The company reported ($0.50) EPS for the quarter. As a group, equities research analysts predict that IperionX Limited Sponsored ADR will post -0.08 EPS for the current year.

Insider Activity at IperionX

In other IperionX news, Chairman Todd Hannigan purchased 300,000 shares of the business's stock in a transaction that occurred on Monday, July 13th. The shares were purchased at an average price of $3.59 per share, for a total transaction of $1,077,000.00. Following the completion of the acquisition, the chairman owned 26,633,334 shares of the company's stock, valued at approximately $95,613,669.06. This represents a 1.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anastasios Arima purchased 138,720 shares of IperionX stock in a transaction on Friday, July 10th. The shares were acquired at an average cost of $3.58 per share, for a total transaction of $496,617.60. Following the completion of the transaction, the chief executive officer owned 12,455,502 shares of the company's stock, valued at $44,590,697.16. This represents a 1.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 663,720 shares of company stock worth $2,379,118 in the last 90 days.

Institutional Trading of IperionX

Several large investors have recently added to or reduced their stakes in IPX. GAMMA Investing LLC lifted its stake 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 in the last quarter. Connective Capital Management LLC purchased a new stake in shares of IperionX during the 2nd quarter valued at about $160,000. XY Capital Ltd purchased a new stake in shares of IperionX during the 4th quarter valued at about $290,000. DLD Asset Management LP acquired a new position in IperionX during the 1st quarter worth approximately $260,000. Finally, Corigliano Investment Advisers LLC acquired a new position in IperionX during the 4th quarter worth approximately $362,000. 2.76% of the stock is currently owned by institutional investors and hedge funds.

IperionX Company Profile

IperionX Limited NASDAQ: IPX is a materials technology company focused on developing a low-carbon, fully integrated titanium supply chain in the United States. The company is working to produce titanium metal and titanium products from locally sourced mineral resources, with applications across the aerospace, defense, automotive, medical and consumer industries.

IperionX's flagship asset is the Titan Project in Tennessee, which contains titanium, rare earth and zircon-rich mineral sands.

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