IperionX (NASDAQ:IPX) Trading Up 6% – Time to Buy?

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) were up 6% during mid-day trading on Wednesday . The company traded as high as $19.45 and last traded at $19.2460. 152,248 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 264,250 shares. The stock had previously closed at $18.16.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IPX shares. Jefferies Financial Group assumed coverage on IperionX in a research note on Wednesday, September 2nd. They set a “buy” rating and a $26.00 price target on the stock. BTIG Research lifted 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. Roth Capital set a $53.00 target price on IperionX in a research report on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

IperionX Stock Performance

The firm has a 50-day simple moving average of $22.32 and a two-hundred day simple moving average of $29.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.00 and a current ratio of 4.03.

Insider Transactions at IperionX

In other news, CEO Anastasios Arima acquired 138,720 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were acquired at an average price of $3.58 per share, with a total value of $496,617.60. Following the purchase, the chief executive officer directly owned 12,455,502 shares of the company’s stock, valued at $44,590,697.16. This trade represents a 1.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Todd Hannigan acquired 300,000 shares of the company’s stock in a transaction dated Monday, July 13th. The shares were purchased 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 trade represents a 1.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 663,720 shares of company stock worth $2,379,118 in the last 90 days.

Institutional Trading of IperionX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in IperionX by 40.3% in the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock valued at $50,000 after buying an additional 483 shares in the last quarter. Connective Capital Management LLC purchased a new stake in shares of IperionX during the 2nd quarter worth about $160,000. DLD Asset Management LP purchased a new stake in shares of IperionX during the 1st quarter worth about $260,000. XY Capital Ltd acquired a new stake in shares of IperionX during the 4th quarter valued at about $290,000. Finally, Corigliano Investment Advisers LLC acquired a new stake in shares of IperionX during the 4th quarter valued at about $362,000. Institutional investors and hedge funds own 2.76% of the company’s stock.

About IperionX

IperionX Limited (NASDAQ: IPX) is a materials technology company focused on developing a low-carbon, fully integrated titanium supply chain in the United States. The company is working to produce titanium metal and titanium products from locally sourced mineral resources, with applications across the aerospace, defense, automotive, medical and consumer industries.

IperionX’s flagship asset is the Titan Project in Tennessee, which contains titanium, rare earth and zircon-rich mineral sands.