IperionX (NASDAQ:IPX) Chairman Acquires $805,500.00 in Stock

IperionX Limited Sponsored ADR (NASDAQ:IPX) Chairman Todd Hannigan purchased 225,000 shares of IperionX stock in a transaction on Friday, July 10th. The stock was bought at an average price of $3.58 per share, with a total value of $805,500.00. Following the transaction, the chairman owned 26,333,334 shares of the company’s stock, valued at approximately $94,273,335.72. This represents a 0.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, July 13th, Todd Hannigan acquired 300,000 shares of IperionX stock. The stock was bought at an average cost of $3.59 per share, for a total transaction of $1,077,000.00.
• On Tuesday, April 28th, Todd Hannigan acquired 220,000 shares of IperionX stock. The shares were bought at an average cost of $4.48 per share, for a total transaction of $985,600.00.
• On Wednesday, April 29th, Todd Hannigan acquired 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 Down 3.2%

IperionX stock opened at $24.67 on Thursday. IperionX Limited Sponsored ADR has a 12-month low of $21.66 and a 12-month high of $61.45. The firm has a 50 day moving average of $33.67 and a 200 day moving average of $37.25. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.03 and a quick ratio of 4.00.

Institutional Investors Weigh In On IperionX

Several large investors have recently made changes to their positions in IPX. Jane Street Group LLC increased its holdings in shares of IperionX by 70.4% in the first quarter. Jane Street Group LLC now owns 31,967 shares of the company’s stock worth $575,000 after purchasing an additional 13,207 shares during the last quarter. JPMorgan Chase & Co. bought a new position in IperionX during the second quarter valued at approximately $66,000. Bank of America Corp DE grew its holdings in IperionX by 69.0% during the 2nd quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock valued at $1,116,000 after buying an additional 14,467 shares in the last quarter. Private Advisor Group LLC purchased a new position in IperionX during the 3rd quarter valued at approximately $405,000. Finally, Citadel Advisors LLC bought a new stake in IperionX in the 3rd quarter worth approximately $622,000. 2.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IPX has been the subject of a number of analyst reports. Alliance Global Partners reissued a “buy” rating on shares of IperionX in a research note on Tuesday, April 28th. BTIG Research lifted their target price on shares of IperionX from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Roth Capital reaffirmed a “buy” rating on shares of IperionX in a report on Monday, June 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a research note on Tuesday, April 21st. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.