IperionX (NASDAQ:IPX) Chairman Todd Hannigan Purchases 300,000 Shares of Stock

IperionX Limited Sponsored ADR (NASDAQ:IPX) Chairman Todd Hannigan acquired 300,000 shares of the stock in a transaction on Monday, July 13th. The stock was bought at an average cost of $3.59 per share, for a total transaction of $1,077,000.00. Following the transaction, the chairman owned 26,633,334 shares of the company’s stock, valued at approximately $95,613,669.06. This trade represents a 1.14% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Todd Hannigan also recently made the following trade(s):

• On Friday, July 10th, Todd Hannigan bought 225,000 shares of IperionX stock. The shares were bought at an average cost of $3.58 per share, with a total value of $805,500.00.
• On Tuesday, April 28th, Todd Hannigan purchased 220,000 shares of IperionX stock. The shares were bought at an average price of $4.48 per share, with a total value of $985,600.00.
• On Wednesday, April 29th, Todd Hannigan purchased 260,000 shares of IperionX stock. The shares were bought at an average price of $4.20 per share, with a total value of $1,092,000.00.

IperionX Stock Performance

NASDAQ:IPX opened at $25.03 on Monday. IperionX Limited Sponsored ADR has a 12 month low of $21.66 and a 12 month high of $61.45. 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 is $34.28 and its 200 day moving average is $37.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IPX. GAMMA Investing LLC raised its holdings in IperionX by 40.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock valued at $50,000 after acquiring an additional 483 shares during the period. JPMorgan Chase & Co. bought a new position in shares of IperionX in the second quarter worth $66,000. State of Tennessee Department of Treasury bought a new position in shares of IperionX in the fourth quarter worth $119,000. Quadrature Capital Ltd grew its position in shares of IperionX by 42.8% in the fourth 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. Finally, DV Equities LLC purchased a new position in shares of IperionX in the fourth quarter valued at $178,000. 2.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IPX. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research note on Tuesday, April 21st. BTIG Research lifted 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. Alliance Global Partners restated a “buy” rating on shares of IperionX in a research note on Tuesday, April 28th. Finally, Roth Capital reaffirmed a “buy” rating on shares of IperionX in a report on Monday, June 8th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.33.

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.