IperionX (NASDAQ:IPX) Sets New 52-Week Low – Here’s What Happened

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) reached a new 52-week low during trading on Friday . The company traded as low as $21.60 and last traded at $21.60, with a volume of 2248 shares traded. The stock had previously closed at $21.94.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IPX shares. BTIG Research increased their price objective 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. Alliance Global Partners reaffirmed a “buy” rating on shares of IperionX in a report on Tuesday, April 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research note on Friday, July 17th. Finally, Roth Capital reissued a “buy” rating on shares of IperionX in a report on Monday, June 8th. Five research 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.33.

IperionX Stock Down 3.7%

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 business has a fifty day moving average price of $31.55 and a 200 day moving average price of $36.66.

Insiders Place Their Bets

In other IperionX news, Chairman Todd Hannigan purchased 300,000 shares of the business’s stock in a transaction on Monday, July 13th. The shares were purchased at an average cost of $3.59 per share, for a total transaction of $1,077,000.00. Following the acquisition, the chairman owned 26,633,334 shares of the company’s stock, valued at approximately $95,613,669.06. This represents a 1.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anastasios Arima purchased 138,720 shares of IperionX stock in a transaction on Friday, July 10th. The stock was bought at an average price of $3.58 per share, with a total value of $496,617.60. Following the completion of the acquisition, the chief executive officer directly owned 12,455,502 shares of the company’s stock, valued at approximately $44,590,697.16. This trade represents a 1.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 1,253,720 shares of company stock worth $4,950,618.

Hedge Funds Weigh In On IperionX

Several large investors have recently bought and sold shares of IPX. GAMMA Investing LLC raised its position in IperionX by 40.3% in the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock worth $50,000 after acquiring an additional 483 shares during the period. JPMorgan Chase & Co. bought a new position in IperionX in the 2nd quarter worth approximately $66,000. State of Tennessee Department of Treasury bought a new position in IperionX in the 4th quarter worth approximately $119,000. DV Equities LLC purchased a new position in IperionX in the 4th quarter valued at approximately $178,000. Finally, Man Group plc purchased a new position in IperionX in the 4th quarter valued at approximately $257,000. 2.76% of the stock is currently 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.