IperionX (NASDAQ:IPX) Trading 8.1% Higher – Still a Buy?

IperionX Limited Sponsored ADR (NASDAQ:IPX) rose 8.1% during trading on Tuesday . The stock traded as high as $29.08 and last traded at $29.1170. 56,067 shares changed hands during trading, a decline of 78% from the average session volume of 255,232 shares. The stock had previously closed at $26.94.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IPX shares. Roth Mkm reissued a “buy” rating on shares of IperionX in a research note on Monday, June 8th. B. Riley Financial lowered their price objective on shares of IperionX from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a research note on Tuesday, April 21st. BTIG Research raised their price target on shares of IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of IperionX in a research note on Tuesday, April 28th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.33.

IperionX Stock Up 12.1%

The company has a current ratio of 4.03, a quick ratio of 4.00 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $34.96 and a 200 day moving average price of $37.94.

Insider Buying and Selling at IperionX

In other IperionX news, CEO Anastasios Arima acquired 110,000 shares of the stock in a transaction on Tuesday, April 28th. The shares were purchased at an average price of $4.49 per share, for a total transaction of $493,900.00. Following the completion of the acquisition, the chief executive officer owned 12,316,782 shares in the company, valued at approximately $55,302,351.18. This represents a 0.90% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Todd Hannigan acquired 260,000 shares of the stock in a transaction on Wednesday, April 29th. The shares were acquired at an average price of $4.20 per share, for a total transaction of $1,092,000.00. Following the acquisition, the chairman owned 26,108,334 shares of the company’s stock, valued at approximately $109,655,002.80. The trade was 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 purchased 590,000 shares of company stock valued at $2,571,500.

Institutional Investors Weigh In On IperionX

Several hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new position in IperionX during the 2nd quarter valued at about $66,000. State of Tennessee Department of Treasury bought a new position in shares of IperionX in the fourth quarter valued at approximately $119,000. Quadrature Capital Ltd lifted its holdings 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 purchasing an additional 4,471 shares in the last quarter. DV Equities LLC purchased a new position in shares of IperionX during the fourth quarter valued at approximately $178,000. Finally, Man Group plc bought a new stake in IperionX during the fourth quarter worth $257,000. 2.76% of the stock is owned by institutional investors.

About IperionX

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.