IperionX (NASDAQ:IPX) Reaches New 1-Year Low – Should You Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $19.80 and last traded at $19.8860, with a volume of 44788 shares traded. The stock had previously closed at $21.29.

Analyst Ratings Changes

IPX has been the subject of a number of analyst reports. BTIG Research increased their price target on IperionX from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research note on Friday, July 17th. Jefferies Financial Group initiated coverage on shares of IperionX in a report on Wednesday, September 2nd. They issued a “buy” rating and a $26.00 target price for the company. Finally, Roth Capital set a $53.00 price target on shares of IperionX in a research report on Wednesday, August 5th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.50.

IperionX Price Performance

The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $23.22 and a 200-day moving average price of $30.79.

Insiders Place Their Bets

In related news, Chairman Todd Hannigan purchased 300,000 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The shares were bought at an average cost of $3.59 per share, with a total value of $1,077,000.00. Following the acquisition, the chairman owned 26,633,334 shares of the company’s stock, valued at $95,613,669.06. This represents a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Anastasios Arima purchased 138,720 shares of IperionX stock in a transaction that occurred on Friday, July 10th. The shares were bought at an average price of $3.58 per share, with a total value of $496,617.60. Following the transaction, 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 SEC filing for this purchase provides additional information. Insiders acquired a total of 663,720 shares of company stock valued at $2,379,118 in the last 90 days.

Institutional Investors Weigh In On IperionX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPX. Private Advisor Group LLC raised 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 purchasing an additional 25,964 shares during the period. Corigliano Investment Advisers LLC bought a new stake in IperionX during the 4th quarter valued at $362,000. XY Capital Ltd bought a new stake in IperionX during the 4th quarter valued at $290,000. XTX Topco Ltd purchased a new stake in shares of IperionX during the fourth quarter worth $302,000. Finally, Quadrature Capital Ltd increased its holdings in IperionX by 42.8% during the 4th quarter. Quadrature Capital Ltd now owns 14,918 shares of the company’s stock worth $540,000 after acquiring an additional 4,471 shares during the period. 2.76% of the stock is currently 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.