Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX – Get Free Report) were up 10.1% on Friday. The stock traded as high as $17.15 and last traded at $17.4240. Approximately 60,606 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 273,712 shares. The stock had previously closed at $15.82.
Wall Street Analyst Weigh In
Several research firms recently commented on IPX. Roth Capital set a $53.00 price objective on IperionX in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a research report on Friday, July 17th. Jefferies Financial Group assumed coverage on shares of IperionX in a report on Wednesday, September 2nd. They set a “buy” rating and a $26.00 price target on the stock. B. Riley Financial reduced their price target on shares of IperionX from $52.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, BTIG Research boosted their price objective on shares of IperionX from $40.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 5th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.
Get Our Latest Stock Report on IperionX
IperionX Price Performance
IperionX (NASDAQ:IPX – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.50) earnings per share for the quarter. On average, equities research analysts forecast that IperionX Limited Sponsored ADR will post -0.08 EPS for the current year.
Insider Activity at IperionX
In other IperionX news, Chairman Todd Hannigan acquired 300,000 shares of the business’s stock in a transaction dated Monday, July 13th. The stock was purchased at an average price of $3.59 per share, with a total value of $1,077,000.00. Following the transaction, the chairman directly owned 26,633,334 shares in the company, valued at approximately $95,613,669.06. The trade was a 1.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anastasios Arima acquired 138,720 shares of IperionX stock in a transaction dated Friday, July 10th. The stock was bought at an average price of $3.58 per share, with a total value of $496,617.60. Following the completion of the purchase, the chief executive officer directly owned 12,455,502 shares in the company, valued at $44,590,697.16. This represents a 1.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 663,720 shares of company stock worth $2,379,118 over the last quarter.
Institutional Trading of IperionX
Several hedge funds have recently bought and sold shares of IPX. Connective Capital Management LLC purchased a new stake in shares of IperionX in the second quarter worth $160,000. GAMMA Investing LLC boosted its holdings in IperionX by 40.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock worth $50,000 after buying an additional 483 shares during the period. DLD Asset Management LP purchased a new stake in IperionX in the 1st quarter worth $260,000. Private Advisor Group LLC raised its holdings in IperionX by 69.9% during the first 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. Finally, Corigliano Investment Advisers LLC bought a new position in shares of IperionX in the fourth quarter worth about $362,000. Institutional investors own 2.76% of the company’s stock.
IperionX Company Profile
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.
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