IperionX (NASDAQ:IPX) Stock Price Down 9.1% – What’s Next?

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) were down 9.1% 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.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IPX shares. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research report on Tuesday, April 21st. BTIG Research started coverage on IperionX in a research report on Friday, March 27th. They issued a “buy” rating and a $40.00 price target for the company. B. Riley Financial dropped their price target on IperionX from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Finally, Alliance Global Partners restated a “buy” rating on shares of IperionX in a research report on Tuesday, April 28th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.33.

IperionX Stock Up 1.0%

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 firm has a 50-day simple moving average of $33.82 and a two-hundred day simple moving average of $38.01.

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

Insiders Place Their Bets

In other IperionX news, Chairman Todd Hannigan acquired 260,000 shares of the stock in a transaction dated 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 completion of the transaction, the chairman directly owned 26,108,334 shares in the company, valued at approximately $109,655,002.80. This trade represents a 1.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anastasios Arima acquired 110,000 shares of the stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average cost of $4.49 per share, with a total value of $493,900.00. Following the transaction, the chief executive officer owned 12,316,782 shares of the company’s stock, valued at approximately $55,302,351.18. This trade represents a 0.90% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 590,000 shares of company stock valued at $2,571,500.

Institutional Investors Weigh In On IperionX

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DLD Asset Management LP purchased a new stake in shares of IperionX in the first quarter valued at $260,000. Private Advisor Group LLC grew its position in IperionX by 69.9% during the first quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock valued at $1,643,000 after acquiring an additional 25,964 shares during the period. State of Tennessee Department of Treasury purchased a new stake in IperionX during the fourth quarter valued at about $119,000. XTX Topco Ltd purchased a new stake in IperionX during the fourth quarter valued at about $302,000. Finally, Quadrature Capital Ltd grew its position in IperionX by 42.8% during the fourth quarter. Quadrature Capital Ltd now owns 14,918 shares of the company’s stock valued at $540,000 after acquiring an additional 4,471 shares during the period. Hedge funds and other institutional investors own 2.76% of the company’s stock.

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.