IperionX (NASDAQ:IPX) Shares Gap Down – Time to Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $34.78, but opened at $32.55. IperionX shares last traded at $32.6860, with a volume of 53,808 shares changing hands.

Wall Street Analysts Forecast Growth

IPX has been the topic of several research reports. Alliance Global Partners restated a “buy” rating on shares of IperionX in a research report on Tuesday, April 28th. Roth Mkm restated a “buy” rating on shares of IperionX in a research report on Monday, June 8th. BTIG Research raised 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. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research report on Tuesday, April 21st. Finally, B. Riley Financial lowered their price objective on shares of IperionX from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

IperionX Stock Performance

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 company’s fifty day moving average is $35.31 and its 200 day moving average is $38.23.

Insider Transactions at IperionX

In other news, CEO Anastasios Arima acquired 110,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were purchased at an average price of $4.49 per share, for a total transaction of $493,900.00. Following the completion of the transaction, the chief executive officer owned 12,316,782 shares of the company’s stock, valued at $55,302,351.18. The trade was a 0.90% 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, Chairman Todd Hannigan acquired 260,000 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was purchased at an average price of $4.20 per share, for a total transaction of $1,092,000.00. Following the transaction, the chairman directly owned 26,108,334 shares of the company’s stock, valued at approximately $109,655,002.80. This trade represents a 1.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 590,000 shares of company stock worth $2,571,500 in the last 90 days.

Hedge Funds Weigh In On IperionX

A number of hedge funds have recently modified their holdings of the company. DLD Asset Management LP purchased a new position in shares of IperionX in the first quarter valued at about $260,000. Private Advisor Group LLC boosted its stake in shares of IperionX by 69.9% during the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock valued at $1,643,000 after purchasing an additional 25,964 shares in the last quarter. State of Tennessee Department of Treasury bought a new stake in shares of IperionX during the 4th quarter valued at about $119,000. XTX Topco Ltd bought a new stake in shares of IperionX during the 4th quarter valued at about $302,000. Finally, Quadrature Capital Ltd boosted its stake in shares of IperionX by 42.8% during the 4th quarter. Quadrature Capital Ltd now owns 14,918 shares of the company’s stock valued at $540,000 after purchasing an additional 4,471 shares in the last quarter. Hedge funds and other institutional investors own 2.76% of the company’s stock.

IperionX Company Profile

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.