IperionX Limited Sponsored ADR (NASDAQ:IPX – Get Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $25.85, but opened at $24.20. IperionX shares last traded at $24.6610, with a volume of 110,119 shares changing hands.
Analyst Upgrades and Downgrades
IPX has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research note on Tuesday, April 21st. Alliance Global Partners reissued a “buy” rating on shares of IperionX in a research note on Tuesday, April 28th. B. Riley Financial dropped their price objective on IperionX from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, March 13th. BTIG Research raised their target price on IperionX from $40.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, Roth Capital reaffirmed a “buy” rating on shares of IperionX in a research note on Monday, June 8th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, IperionX presently has an average rating of “Moderate Buy” and an average target price of $60.33.
Read Our Latest Stock Report on IperionX
IperionX Trading Down 0.5%
Insider Activity
In other IperionX news, Chairman Todd Hannigan acquired 260,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were acquired at an average cost of $4.20 per share, for a total transaction of $1,092,000.00. Following the transaction, the chairman directly owned 26,108,334 shares of the company’s stock, valued at approximately $109,655,002.80. This represents a 1.01% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anastasios Arima acquired 110,000 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was acquired at an average cost of $4.49 per share, for a total transaction of $493,900.00. Following the completion of the purchase, the chief executive officer owned 12,316,782 shares in the company, valued at $55,302,351.18. The trade was a 0.90% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 590,000 shares of company stock worth $2,571,500 over the last quarter.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Van ECK Associates Corp lifted its stake in IperionX by 61.0% in the 4th quarter. Van ECK Associates Corp now owns 1,337,343 shares of the company’s stock valued at $48,392,000 after buying an additional 506,612 shares in the last quarter. Jane Street Group LLC increased its position in IperionX by 62.5% during the fourth quarter. Jane Street Group LLC now owns 129,020 shares of the company’s stock worth $4,669,000 after buying an additional 49,645 shares in the last quarter. Millennium Management LLC acquired a new position in shares of IperionX in the fourth quarter worth $4,249,000. Private Advisor Group LLC lifted its position in shares of IperionX by 69.9% in 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 in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of IperionX by 69.0% in the second quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock valued at $1,116,000 after acquiring an additional 14,467 shares in the last quarter. 2.76% of the stock is owned by hedge funds and other institutional investors.
IperionX Company Profile
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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