Todd Hannigan Acquires 260,000 Shares of IperionX (NASDAQ:IPX) Stock

Key Points

• Chairman Todd Hannigan bought 260,000 IperionX shares on April 29 at an average price of $4.20 (total ~$1,092,000), increasing his direct stake to 26,108,334 shares (a ~1.01% increase) per an SEC filing.
• Shares traded down 5.4% to $29.05 that day and the company reported a recent quarterly loss of $0.50 per share; analysts rate the stock a "Moderate Buy" with an average target of $55.33, while the balance sheet shows strong liquidity (quick ratio 4.00) and very low leverage (debt/equity 0.03).

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) Chairman Todd Hannigan bought 260,000 shares of the company's stock in a transaction dated Wednesday, April 29th. The shares were purchased at an average cost of $4.20 per share, with a total value of $1,092,000.00. Following the acquisition, the chairman directly owned 26,108,334 shares of the company's stock, valued at approximately $109,655,002.80. This represents a 1.01% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

IperionX Trading Down 5.4%

Shares of IPX traded down $1.67 during midday trading on Wednesday, reaching $29.05. 145,957 shares of the stock were exchanged, compared to its average volume of 231,490. IperionX Limited Sponsored ADR has a twelve month low of $19.43 and a twelve month high of $61.45. 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's 50 day simple moving average is $34.48 and its 200 day simple moving average is $39.12.

IperionX (NASDAQ:IPX - Get Free Report) last posted its earnings results on Saturday, January 31st. The company reported ($0.50) earnings per share for the quarter. As a group, equities research analysts predict that IperionX Limited Sponsored ADR will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp acquired a new stake in shares of IperionX in the 3rd quarter valued at approximately $40,997,000. Jones Financial Companies Lllp acquired a new stake in shares of IperionX in the 3rd quarter valued at approximately $36,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of IperionX in the 3rd quarter valued at approximately $297,000. Private Advisor Group LLC acquired a new stake in shares of IperionX in the 3rd quarter valued at approximately $405,000. Finally, Verition Fund Management LLC acquired a new stake in shares of IperionX in the 4th quarter valued at approximately $314,000. Institutional investors and hedge funds own 2.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of IperionX in a research note on Tuesday, April 21st. William Blair assumed coverage on IperionX in a research note on Tuesday, January 13th. They issued an "outperform" rating for the company. Roth Mkm reaffirmed a "buy" rating and issued a $74.00 price target on shares of IperionX in a research note on Tuesday, January 20th. BTIG Research assumed coverage on IperionX in a research note on Friday, March 27th. They issued a "buy" rating and a $40.00 price target for the company. Finally, B. Riley Financial dropped their price target on IperionX from $58.00 to $52.00 and set a "buy" rating for the company in a research note on Friday, March 13th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $55.33.

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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