IperionX Limited Sponsored ADR (NASDAQ:IPX – Get Free Report) shares reached a new 52-week low on Thursday. The stock traded as low as $15.32 and last traded at $15.3450, with a volume of 58986 shares traded. The stock had previously closed at $15.83.
Wall Street Analyst Weigh In
A number of brokerages have commented on IPX. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research note on Friday, July 17th. Roth Capital set a $53.00 price target on IperionX in a research report on Wednesday, August 5th. B. Riley Financial cut their price target on IperionX from $52.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, September 30th. Finally, Jefferies Financial Group assumed coverage on IperionX in a research report on Wednesday, September 2nd. They set a “buy” rating and a $26.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.00.
Read Our Latest Analysis on IPX
IperionX Stock Performance
IperionX (NASDAQ:IPX – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported ($0.50) earnings per share (EPS) for the quarter. As a group, research analysts forecast that IperionX Limited Sponsored ADR will post -0.13 earnings per share for the current fiscal year.
Insider Buying and Selling
In other IperionX news, Chairman Todd Hannigan acquired 300,000 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The stock was acquired at an average cost of $3.59 per share, with a total value of $1,077,000.00. Following the acquisition, the chairman directly owned 26,633,334 shares of the company’s stock, valued at $95,613,669.06. This represents a 1.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anastasios Arima bought 138,720 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was acquired at an average price of $3.58 per share, for a total transaction of $496,617.60. Following the completion of 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 ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 663,720 shares of company stock worth $2,379,118.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Connective Capital Management LLC bought a new position in shares of IperionX in the second quarter worth $160,000. GAMMA Investing LLC raised its stake in shares of IperionX by 40.3% during the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock valued at $50,000 after purchasing an additional 483 shares in the last quarter. DLD Asset Management LP bought a new stake in shares of IperionX during the first quarter valued at about $260,000. Private Advisor Group LLC lifted its holdings 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 period. Finally, Corigliano Investment Advisers LLC acquired a new stake in IperionX in the fourth quarter worth about $362,000. Institutional investors and hedge funds own 2.76% of the company’s stock.
About IperionX
IperionX Limited (NASDAQ: IPX) is a materials technology company focused on developing a U.S.-based, lower-carbon titanium supply chain. The company is working to produce titanium metal, powder and other titanium products for aerospace, defense, automotive, medical and other advanced manufacturing applications.
IperionX is developing its Titan Project in Tennessee, which is designed to supply titanium minerals and support domestic production of titanium products. The project is intended to integrate the processing of titanium mineral resources with downstream manufacturing, reducing reliance on overseas sources of titanium.
The company is also advancing proprietary processing technologies, including its Hydrogen Assisted Metallothermic Reduction process, which is designed to produce titanium metal and powder with lower energy requirements than conventional methods.
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