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

IperionX Limited Sponsored ADR (NASDAQ:IPX) shares gapped down prior to trading on Wednesday . The stock had previously closed at $21.47, but opened at $20.38. IperionX shares last traded at $19.98, with a volume of 39,048 shares trading hands.

Analyst Ratings Changes

A number of research firms have issued reports on IPX. Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a research report on Friday, July 17th. Roth Capital set a $53.00 price objective on IperionX in a report on Wednesday, August 5th. BTIG Research increased their target price on shares of IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Finally, Jefferies Financial Group started coverage on IperionX in a research report on Wednesday, September 2nd. They set a “buy” rating and a $26.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, IperionX currently has an average rating of “Moderate Buy” and an average target price of $46.50.

IperionX Trading Down 8.1%

The stock has a 50 day moving average price of $22.09 and a 200-day moving average price of $29.07. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.00 and a current ratio of 4.03.

Insider Buying and Selling

In other IperionX news, CEO Anastasios Arima acquired 138,720 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were purchased at an average cost of $3.58 per share, for a total transaction of $496,617.60. Following the transaction, the chief executive officer owned 12,455,502 shares in the company, valued at $44,590,697.16. This represents a 1.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Todd Hannigan acquired 300,000 shares of the firm’s stock in a transaction on Monday, July 13th. The stock was bought at an average price of $3.59 per share, with a total value of $1,077,000.00. Following the completion of the acquisition, the chairman directly owned 26,633,334 shares in the company, valued at approximately $95,613,669.06. This represents a 1.14% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 663,720 shares of company stock valued at $2,379,118 in the last ninety days.

Hedge Funds Weigh In On IperionX

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in IperionX by 40.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock valued at $50,000 after acquiring an additional 483 shares during the period. Connective Capital Management LLC bought a new stake in shares of IperionX during the 2nd quarter valued at about $160,000. XY Capital Ltd bought a new position in shares of IperionX in the 4th quarter worth approximately $290,000. DLD Asset Management LP purchased a new stake in IperionX during the first quarter valued at approximately $260,000. Finally, Corigliano Investment Advisers LLC bought a new stake in shares of IperionX during the 4th quarter valued at $362,000. Institutional investors own 2.76% of the company’s stock.

About IperionX

IperionX Limited (NASDAQ: IPX) is a materials technology company focused on developing a low-carbon, fully integrated titanium supply chain in the United States. The company is working to produce titanium metal and titanium products from locally sourced mineral resources, with applications across the aerospace, defense, automotive, medical and consumer industries.

IperionX’s flagship asset is the Titan Project in Tennessee, which contains titanium, rare earth and zircon-rich mineral sands.