IperionX (NASDAQ:IPX) Stock Price Down 6.3% – Should You Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX) was down 6.3% on Thursday . The company traded as low as $20.30 and last traded at $20.21. 46,385 shares were traded during mid-day trading, a decline of 82% from the average session volume of 262,003 shares. The stock had previously closed at $21.58.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IPX. Alliance Global Partners reiterated a “buy” rating on shares of IperionX in a research report on Tuesday, April 28th. Roth Capital set a $53.00 price target on shares of IperionX in a report on Wednesday, August 5th. BTIG Research boosted their price objective on shares of IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.33.

IperionX Price Performance

The business’s fifty day simple moving average is $25.89 and its 200 day simple moving average is $33.15. The company has a current ratio of 4.03, a quick ratio of 4.00 and a debt-to-equity ratio of 0.03.

Insider Buying and Selling at IperionX

In related news, CEO Anastasios Arima acquired 138,720 shares of the company’s 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 acquisition, the chief executive officer owned 12,455,502 shares of the company’s stock, valued at $44,590,697.16. This trade represents a 1.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Todd Hannigan bought 300,000 shares of the business’s stock in a transaction on Monday, July 13th. The stock was bought at an average cost of $3.59 per share, for a total transaction of $1,077,000.00. Following the purchase, the chairman directly owned 26,633,334 shares of the company’s stock, valued at approximately $95,613,669.06. This trade represents a 1.14% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 663,720 shares of company stock worth $2,379,118 over the last 90 days.

Institutional Trading of IperionX

A number of institutional investors and hedge funds have recently modified their holdings of IPX. GAMMA Investing LLC raised its position in shares of IperionX by 40.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock valued at $50,000 after acquiring an additional 483 shares during the period. JPMorgan Chase & Co. bought a new position in IperionX during the 2nd quarter worth approximately $66,000. State of Tennessee Department of Treasury acquired a new position in IperionX during the fourth quarter valued at approximately $119,000. DV Equities LLC acquired a new position in IperionX during the fourth quarter valued at approximately $178,000. Finally, Man Group plc bought a new stake in IperionX in the fourth quarter valued at approximately $257,000. 2.76% of the stock is owned by 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.