IperionX (NASDAQ:IPX) Trading 6% Higher - Still a Buy?

Key Points

• IperionX shares rose 6% to about $19.25, though trading volume was 42% below the stock’s average daily volume.
• Analyst sentiment is mostly positive: six analysts rate the stock a Buy and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $46.50.
• Company insiders have recently bought shares, including the chairman’s purchase of 300,000 shares and the CEO’s purchase of 138,720 shares; institutional ownership remains relatively low at 2.76%.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report)'s stock price shot up 6% during trading on Wednesday . The stock traded as high as $19.45 and last traded at $19.2460. 152,248 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 264,250 shares. The stock had previously closed at $18.16.

Wall Street Analyst Weigh In

IPX has been the subject of several analyst reports. BTIG Research upped 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. Weiss Ratings reiterated a "sell (e+)" rating on shares of IperionX in a report on Friday, July 17th. Jefferies Financial Group assumed coverage on IperionX in a report on Wednesday, September 2nd. They set a "buy" rating and a $26.00 target price on the stock. Finally, Roth Capital set a $53.00 price target on IperionX in a research report on Wednesday, August 5th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, IperionX has a consensus rating of "Moderate Buy" and a consensus price target of $46.50.

IperionX Trading Up 6.0%

The company has a debt-to-equity ratio of 0.03, a current ratio of 4.03 and a quick ratio of 4.00. The business's fifty day simple moving average is $22.47 and its 200 day simple moving average is $30.06.

Insider Transactions at IperionX

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

Institutional Investors Weigh In On IperionX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC boosted its stake in shares of IperionX by 69.9% during the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company's stock valued at $1,643,000 after buying an additional 25,964 shares during the last quarter. Connective Capital Management LLC acquired a new stake in shares of IperionX during the second quarter worth approximately $160,000. GAMMA Investing LLC increased its stake in shares of IperionX by 40.3% in the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company's stock worth $50,000 after buying an additional 483 shares during the last quarter. DLD Asset Management LP bought a new stake in shares of IperionX in the first quarter worth $260,000. Finally, Corigliano Investment Advisers LLC acquired a new stake in IperionX in the fourth quarter valued at $362,000. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

About IperionX

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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