IperionX (NASDAQ:IPX) Shares Climb 10.1% – What’s Next?

by · The Markets Daily

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX – Get Free Report) rose 10.1% on Friday. The stock traded as high as $17.15 and last traded at $17.4240. 60,606 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 273,712 shares. The stock had previously closed at $15.82.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Report on IperionX

IperionX Stock Performance

The firm has a fifty day simple moving average of $21.40 and a two-hundred day simple moving average of $27.74.

IperionX (NASDAQ:IPX – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.50) earnings per share (EPS) for the quarter. As a group, equities research analysts expect that IperionX Limited Sponsored ADR will post -0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IperionX news, Chairman Todd Hannigan bought 300,000 shares of the firm’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 transaction, the chairman owned 26,633,334 shares of the company’s stock, valued at $95,613,669.06. This represents a 1.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anastasios Arima acquired 138,720 shares of IperionX stock in a transaction on Friday, July 10th. The shares were bought at an average cost 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 $44,590,697.16. The trade was a 1.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 663,720 shares of company stock valued at $2,379,118 over the last three months.

Institutional Investors Weigh In On IperionX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IPX. Connective Capital Management LLC bought a new stake in shares of IperionX during the second quarter valued at approximately $160,000. GAMMA Investing LLC boosted its stake 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 acquiring an additional 483 shares in the last quarter. DLD Asset Management LP purchased a new position in IperionX during the 1st quarter worth $260,000. Private Advisor Group LLC increased its holdings in shares of 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 acquiring an additional 25,964 shares in the last quarter. Finally, Corigliano Investment Advisers LLC acquired a new stake in shares of IperionX during the fourth quarter worth $362,000. Institutional investors own 2.76% of the company’s stock.

About IperionX

(Get Free Report)

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.

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