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

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) reached a new 52-week low during trading on Thursday . The company traded as low as $20.09 and last traded at $20.25, with a volume of 479992 shares traded. The stock had previously closed at $22.19.

Analysts Set New Price Targets

IPX has been the subject of several research analyst reports. Roth Capital reaffirmed a “buy” rating on shares of IperionX in a report on Monday, June 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a report on Friday, July 17th. Alliance Global Partners restated a “buy” rating on shares of IperionX in a research report on Tuesday, April 28th. Finally, BTIG Research boosted their price objective on IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.33.

IperionX Stock Down 8.7%

The firm’s 50-day moving average price is $30.48 and its 200 day moving average price is $36.06. The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03.

Insider Buying and Selling

In other IperionX news, CEO Anastasios Arima acquired 138,720 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was acquired at an average price of $3.58 per share, for a total transaction of $496,617.60. Following the acquisition, the chief executive officer directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Todd Hannigan purchased 300,000 shares of the company’s stock in a transaction dated Monday, July 13th. The shares were acquired at an average cost of $3.59 per share, with a total value of $1,077,000.00. Following the purchase, the chairman directly owned 26,633,334 shares of the company’s stock, valued at approximately $95,613,669.06. The trade was a 1.14% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 663,720 shares of company stock worth $2,379,118 in the last 90 days.

Institutional Trading of IperionX

A number of institutional investors and hedge funds have recently bought and sold shares of IPX. Jane Street Group LLC raised its position in IperionX by 70.4% during the 1st quarter. Jane Street Group LLC now owns 31,967 shares of the company’s stock worth $575,000 after purchasing an additional 13,207 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of IperionX in the 2nd quarter valued at about $66,000. Bank of America Corp DE increased 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. Private Advisor Group LLC acquired a new stake in shares of IperionX in the third quarter valued at about $405,000. Finally, Citadel Advisors LLC bought a new position in shares of IperionX during the third quarter worth about $622,000. 2.76% of the stock is currently owned by institutional investors and hedge funds.

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.