IperionX (NASDAQ:IPX) Shares Gap Down – Should You Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $34.78, but opened at $32.55. IperionX shares last traded at $32.6860, with a volume of 53,808 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on IPX shares. B. Riley Financial decreased their target price on IperionX from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a research report on Tuesday, April 21st. BTIG Research boosted their target price on 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 reissued a “buy” rating on shares of IperionX in a report on Tuesday, April 28th. Finally, Roth Mkm reissued a “buy” rating on shares of IperionX in a report on Monday, June 8th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.33.

IperionX Price Performance

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 firm has a fifty day moving average price of $35.49 and a 200-day moving average price of $38.22.

Insider Activity at IperionX

In other news, Chairman Todd Hannigan acquired 260,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The shares were acquired at an average price of $4.20 per share, for a total transaction of $1,092,000.00. Following the completion of the purchase, the chairman owned 26,108,334 shares in the company, valued at approximately $109,655,002.80. This trade represents a 1.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Anastasios Arima acquired 110,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was purchased at an average price of $4.49 per share, for a total transaction of $493,900.00. Following the purchase, the chief executive officer owned 12,316,782 shares of the company’s stock, valued at $55,302,351.18. The trade was a 0.90% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 590,000 shares of company stock worth $2,571,500.

Institutional Trading of IperionX

Institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in shares of IperionX during the third quarter worth about $36,000. JPMorgan Chase & Co. purchased a new stake in shares of IperionX during the second quarter worth about $66,000. State of Tennessee Department of Treasury purchased a new stake in shares of IperionX during the fourth quarter worth about $119,000. DV Equities LLC purchased a new stake in IperionX in the fourth quarter worth about $178,000. Finally, Man Group plc purchased a new stake in IperionX in the fourth quarter worth about $257,000. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

About IperionX

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.