IperionX (NASDAQ:IPX) Chairman Buys $1,077,000.00 in Stock

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

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

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

IperionX Stock Down 3.2%

Shares of IPX opened at $24.67 on Thursday. The business’s fifty day moving average is $33.67 and its 200 day moving average is $37.25. IperionX Limited Sponsored ADR has a 12-month low of $21.66 and a 12-month high of $61.45. The company has a current ratio of 4.03, a quick ratio of 4.00 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On IperionX

A number of hedge funds have recently bought and sold shares of the company. Jane Street Group LLC grew its stake in shares of IperionX by 70.4% in the 1st quarter. Jane Street Group LLC now owns 31,967 shares of the company’s stock worth $575,000 after acquiring an additional 13,207 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of IperionX during the 2nd quarter valued at approximately $66,000. Bank of America Corp DE increased its stake in shares of IperionX by 69.0% during the 2nd quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock worth $1,116,000 after purchasing an additional 14,467 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of IperionX in the 3rd quarter worth approximately $405,000. Finally, Citadel Advisors LLC bought a new stake in shares of IperionX in the 3rd quarter worth approximately $622,000. 2.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Alliance Global Partners reissued a “buy” rating on shares of IperionX in a research report on Tuesday, April 28th. Roth Capital reaffirmed a “buy” rating on shares of IperionX in a research report on Monday, June 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research note on Tuesday, April 21st. Finally, BTIG Research boosted 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. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, IperionX presently has a consensus rating of “Moderate Buy” and an average target price of $60.33.

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.