Insider Buying: IperionX (NASDAQ:IPX) CEO Acquires 138,720 Shares of Stock

IperionX Limited Sponsored ADR (NASDAQ:IPX) CEO Anastasios Arima acquired 138,720 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were bought at an average cost of $3.58 per share, for a total transaction of $496,617.60. Following the completion of the acquisition, the chief executive officer directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Anastasios Arima also recently made the following trade(s):

• On Tuesday, April 28th, Anastasios Arima bought 110,000 shares of IperionX stock. The stock was acquired at an average cost of $4.49 per share, for a total transaction of $493,900.00.

IperionX Stock Performance

Shares of NASDAQ:IPX opened at $25.03 on Monday. 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 company’s 50-day moving average price is $34.28 and its two-hundred day moving average price is $37.50. IperionX Limited Sponsored ADR has a 12 month low of $21.66 and a 12 month high of $61.45.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IPX. Alliance Global Partners reissued a “buy” rating on shares of IperionX in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a research note on Tuesday, April 21st. BTIG Research lifted their price target on shares of IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Roth Capital reissued a “buy” rating on shares of IperionX in a research note on Monday, June 8th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, IperionX has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

Institutional Investors Weigh In On IperionX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IPX. Private Advisor Group LLC raised its position in shares of IperionX by 69.9% in the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock valued at $1,643,000 after acquiring an additional 25,964 shares during the period. Corigliano Investment Advisers LLC acquired a new position in IperionX during the fourth quarter valued at approximately $362,000. Van ECK Associates Corp grew its holdings in IperionX by 61.0% during the fourth quarter. Van ECK Associates Corp now owns 1,337,343 shares of the company’s stock valued at $48,392,000 after purchasing an additional 506,612 shares during the period. Jane Street Group LLC increased its stake in IperionX by 62.5% in the fourth quarter. Jane Street Group LLC now owns 129,020 shares of the company’s stock valued at $4,669,000 after purchasing an additional 49,645 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in IperionX in the fourth quarter valued at approximately $4,249,000. 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.