IperionX (NASDAQ:IPX) Shares Gap Down – What’s Next?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $27.70, but opened at $26.48. IperionX shares last traded at $26.3150, with a volume of 67,101 shares.

Analysts Set New Price Targets

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

IperionX Stock Performance

The stock has a fifty day moving average of $35.09 and a 200 day moving average of $37.97. 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 other IperionX news, Chairman Todd Hannigan bought 260,000 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was purchased at an average cost of $4.20 per share, with a total value of $1,092,000.00. Following the transaction, the chairman directly owned 26,108,334 shares in the company, valued at $109,655,002.80. This trade represents a 1.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anastasios Arima purchased 110,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was bought at an average cost of $4.49 per share, for a total transaction of $493,900.00. Following the completion of the acquisition, the chief executive officer directly owned 12,316,782 shares in the company, valued at $55,302,351.18. The trade was a 0.90% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 590,000 shares of company stock valued at $2,571,500.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp raised its holdings in shares of IperionX by 61.0% in the 4th quarter. Van ECK Associates Corp now owns 1,337,343 shares of the company’s stock worth $48,392,000 after purchasing an additional 506,612 shares during the period. Jane Street Group LLC increased its position in IperionX by 62.5% in the fourth quarter. Jane Street Group LLC now owns 129,020 shares of the company’s stock worth $4,669,000 after buying an additional 49,645 shares during the last quarter. Millennium Management LLC purchased a new stake in IperionX in the fourth quarter worth $4,249,000. Private Advisor Group LLC raised its stake 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 buying an additional 25,964 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of IperionX by 69.0% in the second quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock valued at $1,116,000 after buying an additional 14,467 shares during the period. 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.