IperionX (NASDAQ:IPX) Shares Down 7.7% – Should You Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX) dropped 7.7% during trading on Thursday. The company traded as low as $15.65 and last traded at $15.53. Approximately 50,543 shares traded hands during trading, a decline of 82% from the average session volume of 273,240 shares. The stock had previously closed at $16.82.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a report on Friday, July 17th. Roth Capital set a $53.00 price objective on shares of IperionX in a research report on Wednesday, August 5th. BTIG Research raised their target price on IperionX from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, June 5th. 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 on the stock. Finally, B. Riley Financial cut their price target on IperionX from $52.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

IperionX Stock Performance

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 fifty day moving average is $21.52 and its 200-day moving average is $27.87.

IperionX (NASDAQ:IPX) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.50) earnings per share for the quarter. As a group, equities research analysts anticipate that IperionX Limited Sponsored ADR will post -0.08 EPS for the current fiscal year.

Insider Activity at IperionX

In other news, Chairman Todd Hannigan bought 300,000 shares of IperionX stock in a transaction on Monday, July 13th. The shares were bought at an average price of $3.59 per share, with a total value of $1,077,000.00. Following 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anastasios Arima bought 138,720 shares of IperionX stock in a transaction on 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 acquisition, the chief executive officer owned 12,455,502 shares in the company, valued at $44,590,697.16. The trade was a 1.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 663,720 shares of company stock worth $2,379,118 in the last 90 days.

Hedge Funds Weigh In On IperionX

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in IperionX by 40.3% during the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock valued at $50,000 after purchasing an additional 483 shares during the last quarter. Connective Capital Management LLC bought a new position in shares of IperionX in the 2nd quarter worth about $160,000. DLD Asset Management LP acquired a new position in shares of IperionX in the 1st quarter valued at about $260,000. XY Capital Ltd acquired a new position in shares of IperionX in the 4th quarter valued at about $290,000. Finally, Corigliano Investment Advisers LLC bought a new stake in shares of IperionX during the 4th quarter valued at about $362,000. Institutional investors and hedge funds own 2.76% of the company’s stock.

IperionX Company Profile

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.