IperionX (NASDAQ:IPX) Trading Down 9.1% – Should You Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX) dropped 9.1% during trading on Wednesday . The stock traded as low as $40.00 and last traded at $40.00. Approximately 114,814 shares were traded during trading, a decline of 53% from the average daily volume of 244,257 shares. The stock had previously closed at $44.00.

Analyst Ratings Changes

Several brokerages recently issued reports on IPX. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a report on Tuesday, April 21st. BTIG Research began coverage on shares of IperionX in a report on Friday, March 27th. They issued a “buy” rating and a $40.00 price objective on the stock. Alliance Global Partners restated a “buy” rating on shares of IperionX in a report on Tuesday, April 28th. Finally, B. Riley Financial reduced 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. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.33.

IperionX Stock Performance

The firm’s fifty day moving average is $32.76 and its 200-day moving average is $37.86. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.03 and a quick ratio of 4.00.

IperionX (NASDAQ:IPX) last released its earnings results on Saturday, January 31st. The company reported ($0.50) earnings per share for the quarter. Analysts expect that IperionX Limited Sponsored ADR will post -0.12 earnings per share for the current year.

Insider Activity

In other news, Chairman Todd Hannigan bought 260,000 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was bought 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. The trade was a 1.01% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anastasios Arima bought 110,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was purchased at an average cost of $4.49 per share, with a total value of $493,900.00. Following the completion of the transaction, the chief executive officer owned 12,316,782 shares in the company, valued at $55,302,351.18. This represents a 0.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 590,000 shares of company stock valued at $2,571,500.

Hedge Funds Weigh In On IperionX

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new position in shares of IperionX during the third quarter worth about $36,000. JPMorgan Chase & Co. acquired a new position in shares of IperionX during the second quarter worth about $66,000. State of Tennessee Department of Treasury acquired a new position in shares of IperionX during the fourth quarter worth about $119,000. DV Equities LLC acquired a new position in shares of IperionX during the fourth quarter worth about $178,000. Finally, Man Group plc acquired a new position in shares of IperionX during the fourth quarter worth about $257,000. 2.76% of the stock is owned by institutional investors and hedge funds.

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.