IperionX (NASDAQ:IPX) Trading Up 4.8% – Still a Buy?

IperionX Limited Sponsored ADR (NASDAQ:IPX) traded up 4.8% during trading on Monday . The stock traded as high as $22.02 and last traded at $22.01. 112,583 shares were traded during trading, a decline of 58% from the average session volume of 265,157 shares. The stock had previously closed at $21.01.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Roth Capital set a $53.00 price target on shares of IperionX in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research report on Friday, July 17th. Finally, BTIG Research increased their price objective on shares of IperionX from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, IperionX presently has an average rating of “Moderate Buy” and a consensus price target of $53.33.

IperionX Stock Performance

The business has a 50-day moving average of $24.27 and a two-hundred day moving average of $31.93. The company has a current ratio of 4.03, a quick ratio of 4.00 and a debt-to-equity ratio of 0.03.

Insider Activity

In other IperionX news, Chairman Todd Hannigan acquired 300,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The stock was acquired at an average price of $3.59 per share, for a total transaction of $1,077,000.00. Following the acquisition, the chairman directly owned 26,633,334 shares in the company, valued at $95,613,669.06. This represents a 1.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anastasios Arima bought 138,720 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The shares were acquired at an average price 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 in the company, valued at $44,590,697.16. This trade represents a 1.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 663,720 shares of company stock worth $2,379,118.

Hedge Funds Weigh In On IperionX

Several large investors have recently modified their holdings of IPX. Jane Street Group LLC lifted its holdings in shares of IperionX by 70.4% during the first quarter. Jane Street Group LLC now owns 31,967 shares of the company’s stock worth $575,000 after purchasing an additional 13,207 shares during the period. JPMorgan Chase & Co. acquired a new stake in IperionX in the second quarter valued at $66,000. Bank of America Corp DE lifted its holdings in IperionX by 69.0% during the 2nd quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock worth $1,116,000 after buying an additional 14,467 shares during the period. Private Advisor Group LLC acquired a new position in IperionX during the 3rd quarter worth about $405,000. Finally, Citadel Advisors LLC bought a new stake in shares of IperionX in the 3rd quarter valued at about $622,000. Institutional investors own 2.76% of the company’s stock.

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.