IperionX (NASDAQ:IPX) Shares Gap Down – Here’s What Happened

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $25.85, but opened at $24.20. IperionX shares last traded at $24.6610, with a volume of 110,119 shares.

Wall Street Analysts Forecast Growth

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

IperionX Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.00 and a current ratio of 4.03. The firm has a fifty day simple moving average of $34.67 and a two-hundred day simple moving average of $37.69.

Insiders Place Their Bets

In other IperionX news, CEO Anastasios Arima bought 110,000 shares of IperionX stock in a transaction dated Tuesday, April 28th. The shares were purchased at an average cost of $4.49 per share, for a total transaction of $493,900.00. Following the acquisition, the chief executive officer directly 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 document filed with the SEC, which is available through this link. Also, Chairman Todd Hannigan bought 260,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chairman directly owned 26,108,334 shares in the company, valued at approximately $109,655,002.80. This represents a 1.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 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 added to or reduced their stakes in IPX. GAMMA Investing LLC boosted its holdings in shares of IperionX by 40.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock worth $50,000 after purchasing an additional 483 shares during the period. JPMorgan Chase & Co. bought a new position in IperionX during the second quarter valued at $66,000. State of Tennessee Department of Treasury purchased a new stake in shares of IperionX in the fourth quarter valued at $119,000. DV Equities LLC bought a new stake in shares of IperionX in the 4th quarter worth about $178,000. Finally, Man Group plc purchased a new position in shares of IperionX during the 4th quarter worth about $257,000. 2.76% of the stock is currently owned by hedge funds and other 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.