Private Advisor Group LLC raised its stake in IperionX Limited Sponsored ADR (NASDAQ:IPX – Free Report) by 69.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,111 shares of the company’s stock after acquiring an additional 25,964 shares during the period. Private Advisor Group LLC’s holdings in IperionX were worth $1,643,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of IPX. JPMorgan Chase & Co. acquired a new stake in shares of IperionX during the 2nd quarter worth $66,000. State of Tennessee Department of Treasury acquired a new position in IperionX in the fourth quarter valued at about $119,000. Quadrature Capital Ltd raised its stake in IperionX by 42.8% in the fourth quarter. Quadrature Capital Ltd now owns 14,918 shares of the company’s stock valued at $540,000 after purchasing an additional 4,471 shares in the last quarter. DV Equities LLC bought a new stake in IperionX during the fourth quarter worth about $178,000. Finally, Man Group plc acquired a new stake in IperionX during the fourth quarter worth about $257,000. 2.76% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have commented on IPX shares. BTIG Research raised their target price on shares of IperionX from $40.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 5th. Roth Capital reaffirmed a “buy” rating on shares of IperionX in a report on Monday, June 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research report on Tuesday, April 21st. Finally, Alliance Global Partners reiterated a “buy” rating on shares of IperionX in a research report on Tuesday, April 28th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, IperionX currently has an average rating of “Moderate Buy” and a consensus price target of $60.33.
IperionX Price Performance
Shares of IPX stock traded up $1.28 on Friday, hitting $25.03. 375,703 shares of the company’s stock were exchanged, compared to its average volume of 339,778. The company has a 50 day moving average of $34.28 and a 200 day moving average of $37.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.03 and a quick ratio of 4.00. IperionX Limited Sponsored ADR has a 12 month low of $21.66 and a 12 month high of $61.45.
Insider Activity
In related news, CEO Anastasios Arima bought 110,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average price of $4.49 per share, with a total value of $493,900.00. Following the completion of the acquisition, the chief executive officer owned 12,316,782 shares of the company’s stock, valued at $55,302,351.18. The trade was a 0.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Todd Hannigan purchased 260,000 shares of IperionX stock in a transaction dated Wednesday, April 29th. The stock was bought at an average price of $4.20 per share, for a total transaction of $1,092,000.00. Following the completion of the purchase, the chairman owned 26,108,334 shares in the company, valued at $109,655,002.80. This represents a 1.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 590,000 shares of company stock valued at $2,571,500.
About IperionX
IperionX (NASDAQ: IPX) is a mineral technology company focused on the production and commercialization of highâpurity 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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