Insider Buying: IperionX (NASDAQ:IPX) Chairman Purchases 225,000 Shares of Stock

IperionX Limited Sponsored ADR (NASDAQ:IPXGet Free Report) Chairman Todd Hannigan acquired 225,000 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The stock was bought at an average price of $3.58 per share, for a total transaction of $805,500.00. Following the completion of the transaction, the chairman owned 26,333,334 shares of the company’s stock, valued at $94,273,335.72. The trade was a 0.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Todd Hannigan also recently made the following trade(s):

  • On Monday, July 13th, Todd Hannigan bought 300,000 shares of IperionX stock. The shares were bought at an average price of $3.59 per share, with a total value of $1,077,000.00.
  • On Tuesday, April 28th, Todd Hannigan purchased 220,000 shares of IperionX stock. The stock was bought at an average cost of $4.48 per share, for a total transaction of $985,600.00.
  • On Wednesday, April 29th, Todd Hannigan acquired 260,000 shares of IperionX stock. The shares were bought at an average price of $4.20 per share, for a total transaction of $1,092,000.00.

IperionX Price Performance

NASDAQ IPX opened at $25.03 on Monday. IperionX Limited Sponsored ADR has a 52-week low of $21.66 and a 52-week high of $61.45. The company has a fifty day moving average of $34.28 and a 200-day moving average of $37.50. The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IPX. Alliance Global Partners reaffirmed a “buy” rating on shares of IperionX in a research note on Tuesday, April 28th. Roth Capital reiterated a “buy” rating on shares of IperionX in a research report on Monday, June 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a report on Tuesday, April 21st. Finally, BTIG Research boosted their target price on IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a research report 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. According to data from MarketBeat, IperionX has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

Check Out Our Latest Report on IPX

Hedge Funds Weigh In On IperionX

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in 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 purchasing an additional 483 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of IperionX during the second quarter valued at about $66,000. State of Tennessee Department of Treasury bought a new position in shares of IperionX during the fourth quarter valued at about $119,000. DV Equities LLC bought a new position in shares of IperionX during the fourth quarter valued at about $178,000. Finally, Man Group plc purchased a new position in shares of IperionX in the fourth quarter worth about $257,000. Hedge funds and other institutional investors own 2.76% of the company’s stock.

About IperionX

(Get Free Report)

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.

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