IperionX (NASDAQ:IPX) Trading Down 7% – Time to Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s stock price fell 7% on Thursday . The company traded as low as $22.26 and last traded at $22.1250. 103,408 shares were traded during trading, a decline of 61% from the average daily volume of 264,499 shares. The stock had previously closed at $23.80.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IPX. Alliance Global Partners reaffirmed a “buy” rating on shares of IperionX in a report on Tuesday, April 28th. BTIG Research increased their price target on shares of IperionX from $40.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 5th. Roth Capital reissued a “buy” rating on shares of IperionX in a research report on Monday, June 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a report on Friday, July 17th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.33.

IperionX Stock Performance

The firm has a 50-day moving average of $31.26 and a 200 day moving average of $36.56. 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 at IperionX

In related news, Chairman Todd Hannigan bought 300,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were bought at an average price of $3.59 per share, for a total transaction of $1,077,000.00. Following the completion of the acquisition, the chairman owned 26,633,334 shares of the company’s stock, valued at $95,613,669.06. This trade represents a 1.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anastasios Arima bought 138,720 shares of the business’s stock in a transaction on Friday, July 10th. The stock was bought at an average cost of $3.58 per share, with a total value of $496,617.60. Following 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 position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 1,253,720 shares of company stock valued at $4,950,618 over the last three months.

Hedge Funds Weigh In On IperionX

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings 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 acquiring an additional 483 shares during the period. DLD Asset Management LP purchased a new position in IperionX in the first quarter worth about $260,000. Private Advisor Group LLC boosted its position in IperionX by 69.9% in the first quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock worth $1,643,000 after purchasing an additional 25,964 shares during the last quarter. State of Tennessee Department of Treasury bought a new stake in shares of IperionX during the 4th quarter valued at about $119,000. Finally, XTX Topco Ltd bought a new stake in shares of IperionX during the 4th quarter valued at about $302,000. 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.