IperionX (NASDAQ:IPX) Trading Down 9.1% – Should You Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX) shares dropped 9.1% during mid-day trading on Wednesday . The company traded as low as $40.00 and last traded at $40.00. Approximately 114,814 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 244,257 shares. The stock had previously closed at $44.00.

Analyst Upgrades and Downgrades

IPX has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a report on Tuesday, April 21st. BTIG Research assumed coverage on IperionX in a report on Friday, March 27th. They issued a “buy” rating and a $40.00 price target for the company. Alliance Global Partners reissued a “buy” rating on shares of IperionX in a report on Tuesday, April 28th. Finally, B. Riley Financial decreased their price objective on IperionX from $58.00 to $52.00 and set a “buy” rating for the company in a report on Friday, March 13th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.33.

IperionX Price Performance

The company has a fifty day moving average price of $32.76 and a two-hundred day moving average price of $37.86. The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03.

IperionX (NASDAQ:IPX) last posted its quarterly earnings data on Saturday, January 31st. The company reported ($0.50) earnings per share for the quarter. On average, sell-side analysts predict that IperionX Limited Sponsored ADR will post -0.12 EPS for the current year.

Insider Activity at IperionX

In other IperionX news, CEO Anastasios Arima acquired 110,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was purchased at an average price of $4.49 per share, for a total transaction of $493,900.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Todd Hannigan acquired 260,000 shares of the business’s stock in a transaction on Wednesday, April 29th. The stock was acquired at an average price of $4.20 per share, with a total value of $1,092,000.00. Following the transaction, the chairman directly owned 26,108,334 shares of the company’s stock, valued at $109,655,002.80. This represents a 1.01% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 590,000 shares of company stock valued at $2,571,500 in the last 90 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. DLD Asset Management LP purchased a new position in IperionX in the first quarter worth $260,000. Private Advisor Group LLC raised its position 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 acquiring an additional 25,964 shares in the last quarter. State of Tennessee Department of Treasury purchased a new position in shares of IperionX in the fourth quarter valued at $119,000. XTX Topco Ltd purchased a new position in shares of IperionX in the fourth quarter valued at $302,000. Finally, Quadrature Capital Ltd increased its position in shares of 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 buying an additional 4,471 shares in the last quarter. Hedge funds and other institutional investors own 2.76% of the company’s stock.

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.