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

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) gapped down before the market opened on Thursday . The stock had previously closed at $27.70, but opened at $26.48. IperionX shares last traded at $26.3150, with a volume of 67,101 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. BTIG Research raised their target price on IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a report on Tuesday, April 21st. Alliance Global Partners restated a “buy” rating on shares of IperionX in a research report on Tuesday, April 28th. B. Riley Financial decreased their price objective on IperionX from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Finally, Roth Mkm reaffirmed a “buy” rating on shares of IperionX in a research report on Monday, June 8th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

IperionX Price Performance

The stock’s 50 day moving average price is $35.38 and its 200-day moving average price is $38.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.03 and a quick ratio of 4.00.

Insider Buying and Selling at IperionX

In other IperionX news, CEO Anastasios Arima purchased 110,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was acquired at an average price of $4.49 per share, for a total transaction of $493,900.00. Following the purchase, the chief executive officer owned 12,316,782 shares of the company’s stock, valued at approximately $55,302,351.18. This represents a 0.90% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Todd Hannigan purchased 260,000 shares of the firm’s stock in a transaction on Wednesday, April 29th. The shares were acquired at an average cost of $4.20 per share, for a total transaction of $1,092,000.00. Following the completion of the acquisition, the chairman 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 590,000 shares of company stock valued at $2,571,500 in the last ninety days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new position in IperionX in the 2nd quarter worth approximately $66,000. State of Tennessee Department of Treasury bought a new stake in shares of IperionX during the fourth quarter valued at approximately $119,000. Quadrature Capital Ltd lifted its holdings in shares of IperionX by 42.8% in the fourth quarter. Quadrature Capital Ltd now owns 14,918 shares of the company’s stock worth $540,000 after buying an additional 4,471 shares in the last quarter. DV Equities LLC bought a new position in shares of IperionX during the fourth quarter worth $178,000. Finally, Man Group plc bought a new position in shares of IperionX during the fourth quarter worth $257,000. 2.76% of the stock is owned by hedge funds and other institutional investors.

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.