IperionX (NASDAQ:IPX) Reaches New 1-Year Low – Here’s Why

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s stock price hit a new 52-week low on Wednesday. The company traded as low as $17.38 and last traded at $17.8940, with a volume of 51927 shares traded. The stock had previously closed at $18.30.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Roth Capital set a $53.00 price target on shares of IperionX in a research report on Wednesday, August 5th. B. Riley Financial lowered their price objective on shares of IperionX from $52.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday. Jefferies Financial Group started coverage on shares of IperionX in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $26.00 price objective on the stock. BTIG Research lifted their price objective on shares of IperionX from $40.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.00.

IperionX Price Performance

The firm has a 50 day moving average price of $21.66 and a 200 day moving average price of $28.04. The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03.

IperionX (NASDAQ:IPX) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.50) earnings per share for the quarter. On average, equities research analysts predict that IperionX Limited Sponsored ADR will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at IperionX

In other IperionX news, CEO Anastasios Arima bought 138,720 shares of IperionX stock in a transaction dated Friday, July 10th. The stock was purchased at an average price of $3.58 per share, for a total transaction of $496,617.60. Following the completion of the purchase, the chief executive officer directly owned 12,455,502 shares of the company’s stock, valued at approximately $44,590,697.16. This trade represents a 1.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Todd Hannigan bought 300,000 shares of the stock in a transaction on Monday, July 13th. The shares were acquired at an average cost of $3.59 per share, for a total transaction of $1,077,000.00. Following the acquisition, 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 663,720 shares of company stock valued at $2,379,118.

Hedge Funds Weigh In On IperionX

A number of large investors have recently modified their holdings of the company. Private Advisor Group LLC boosted its stake in IperionX by 69.9% during the first quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock valued at $1,643,000 after buying an additional 25,964 shares during the period. Connective Capital Management LLC bought a new stake in IperionX in the 2nd quarter worth $160,000. GAMMA Investing LLC grew its position in shares of IperionX by 40.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock worth $50,000 after buying an additional 483 shares during the last quarter. DLD Asset Management LP bought a new stake in shares of IperionX during the 1st quarter valued at about $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 institutional investors.

IperionX Company Profile

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.