IperionX Limited Sponsored ADR (NASDAQ:IPX) Stock Has Consensus Price Target of $46.50 According to Brokerages

IperionX Limited Sponsored ADR (NASDAQ:IPX) has received a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $46.50.

IPX has been the subject of a number of research analyst reports. Roth Capital set a $53.00 price target on IperionX in a report on Wednesday, August 5th. Jefferies Financial Group started coverage on shares of IperionX in a research note on Wednesday, September 2nd. They set a “buy” rating and a $26.00 target price for the company. BTIG Research lifted their price target on shares of IperionX from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a research note on Friday, July 17th.

IperionX Trading Down 0.8%

IPX stock opened at $19.62 on Friday. IperionX has a 52-week low of $17.40 and a 52-week high of $61.45. 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 business has a fifty day moving average of $21.92 and a two-hundred day moving average of $28.68.

Insiders Place Their Bets

In other news, CEO Anastasios Arima purchased 138,720 shares of the stock in a transaction dated Friday, July 10th. The stock was acquired at an average cost of $3.58 per share, for a total transaction of $496,617.60. Following the completion of the transaction, the chief executive officer directly owned 12,455,502 shares in the company, valued at approximately $44,590,697.16. This represents a 1.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Todd Hannigan acquired 300,000 shares of the company’s stock in a transaction dated Monday, July 13th. The stock was purchased at an average cost of $3.59 per share, with a total value of $1,077,000.00. Following the completion of the purchase, the chairman directly owned 26,633,334 shares of the company’s stock, valued at approximately $95,613,669.06. This represents a 1.14% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 663,720 shares of company stock worth $2,379,118 over the last 90 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IPX. GAMMA Investing LLC raised its stake in shares of IperionX by 40.3% in the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock valued at $50,000 after acquiring an additional 483 shares in the last quarter. Connective Capital Management LLC acquired a new position in IperionX during the 2nd quarter worth $160,000. XY Capital Ltd acquired a new position in IperionX during the 4th quarter worth $290,000. DLD Asset Management LP purchased a new stake in IperionX during the 1st quarter worth about $260,000. Finally, Corigliano Investment Advisers LLC purchased a new stake in IperionX during the 4th quarter worth about $362,000. Hedge funds and other institutional investors own 2.76% of the company’s stock.

About IperionX

IperionX Limited (NASDAQ: IPX) is a materials technology company focused on developing a low-carbon, fully integrated titanium supply chain in the United States. The company is working to produce titanium metal and titanium products from locally sourced mineral resources, with applications across the aerospace, defense, automotive, medical and consumer industries.

IperionX’s flagship asset is the Titan Project in Tennessee, which contains titanium, rare earth and zircon-rich mineral sands.