IperionX (NASDAQ:IPX) Shares Down 7.5% – Time to Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX) was down 7.5% on Wednesday. The company traded as low as $15.64 and last traded at $15.7410. Approximately 153,723 shares were traded during mid-day trading, a decline of 44% from the average session volume of 273,032 shares. The stock had previously closed at $17.01.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IPX shares. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research report on Friday, July 17th. Roth Capital set a $53.00 price objective on IperionX in a research note on Wednesday, August 5th. B. Riley Financial cut their target price on shares of IperionX from $52.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, September 30th. Finally, Jefferies Financial Group initiated coverage on shares of IperionX in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $26.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

IperionX Trading Down 7.1%

The business has a fifty day moving average of $21.08 and a 200-day moving average of $27.50. The company has a current ratio of 3.24, a quick ratio of 2.95 and a debt-to-equity ratio of 0.04.

IperionX (NASDAQ:IPX) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.50) earnings per share for the quarter. On average, analysts expect that IperionX Limited Sponsored ADR will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at IperionX

In related news, CEO Anastasios Arima bought 138,720 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was purchased at an average cost of $3.58 per share, with a total value of $496,617.60. Following the transaction, the chief executive officer owned 12,455,502 shares in the company, valued at approximately $44,590,697.16. This trade represents a 1.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Todd Hannigan bought 300,000 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were bought at an average cost of $3.59 per share, for a total transaction of $1,077,000.00. Following the purchase, 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 SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 663,720 shares of company stock worth $2,379,118.

Institutional Trading of IperionX

Several institutional investors and hedge funds have recently bought and sold shares of IPX. Private Advisor Group LLC grew its holdings 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 worth $1,643,000 after acquiring an additional 25,964 shares during the period. Connective Capital Management LLC purchased a new position in shares of IperionX in the 2nd quarter valued at approximately $160,000. GAMMA Investing LLC boosted its position in shares of 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 in the last quarter. DLD Asset Management LP bought a new stake in shares of IperionX during the first quarter valued at approximately $260,000. Finally, Corigliano Investment Advisers LLC purchased a new stake in IperionX in the fourth quarter worth $362,000. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

About IperionX

IperionX Limited (NASDAQ: IPX) is a materials technology company focused on developing a U.S.-based, lower-carbon titanium supply chain. The company is working to produce titanium metal, powder and other titanium products for aerospace, defense, automotive, medical and other advanced manufacturing applications.

IperionX is developing its Titan Project in Tennessee, which is designed to supply titanium minerals and support domestic production of titanium products. The project is intended to integrate the processing of titanium mineral resources with downstream manufacturing, reducing reliance on overseas sources of titanium.

The company is also advancing proprietary processing technologies, including its Hydrogen Assisted Metallothermic Reduction process, which is designed to produce titanium metal and powder with lower energy requirements than conventional methods.