Analysts Set IperionX Limited Sponsored ADR (NASDAQ:IPX) Price Target at $53.33

IperionX Limited Sponsored ADR (NASDAQ:IPX) has earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $53.3333.

A number of equities research analysts have issued reports on IPX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a research report on Friday, July 17th. Roth Capital set a $53.00 price target on shares of IperionX in a research report on Wednesday, August 5th. Finally, BTIG Research boosted their price objective 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.

Insider Buying and Selling at IperionX

In related news, CEO Anastasios Arima purchased 138,720 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were bought at an average cost of $3.58 per share, for a total transaction of $496,617.60. Following the transaction, 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Todd Hannigan bought 300,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman owned 26,633,334 shares of the company’s stock, valued at $95,613,669.06. This represents a 1.14% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 663,720 shares of company stock worth $2,379,118.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in IperionX by 61.0% in the 4th quarter. Van ECK Associates Corp now owns 1,337,343 shares of the company’s stock valued at $48,392,000 after purchasing an additional 506,612 shares during the last quarter. Jane Street Group LLC boosted its stake 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 purchasing an additional 49,645 shares in the last quarter. Millennium Management LLC bought a new stake in shares of IperionX during the fourth quarter worth $4,249,000. Private Advisor Group LLC increased 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 in the last quarter. Finally, 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 in the last quarter. 2.76% of the stock is currently owned by institutional investors and hedge funds.

IperionX Trading Down 6.4%

Shares of IPX opened at $21.01 on Monday. The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average price is $24.27 and its 200 day moving average price is $32.02. IperionX has a twelve month low of $20.05 and a twelve month high of $61.45.

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.