IperionX (NASDAQ:IPX) Shares Gap Down – Time to Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX) shares gapped down before the market opened on Tuesday . The stock had previously closed at $34.78, but opened at $32.55. IperionX shares last traded at $32.6860, with a volume of 53,808 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Alliance Global Partners reaffirmed a “buy” rating on shares of IperionX in a research note on Tuesday, April 28th. Roth Mkm reaffirmed a “buy” rating on shares of IperionX in a research note on Monday, June 8th. B. Riley Financial cut their target price on shares of IperionX from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a research note on Tuesday, April 21st. Finally, 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. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.33.

IperionX Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.00 and a current ratio of 4.03. The firm’s 50 day moving average is $35.31 and its 200 day moving average is $38.23.

Insider Activity

In other IperionX news, CEO Anastasios Arima acquired 110,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average price of $4.49 per share, with a total value of $493,900.00. Following the completion of the purchase, the chief executive officer directly owned 12,316,782 shares of the company’s stock, valued at approximately $55,302,351.18. The trade was a 0.90% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Todd Hannigan acquired 260,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The shares were acquired at an average cost of $4.20 per share, for a total transaction of $1,092,000.00. Following the purchase, the chairman directly owned 26,108,334 shares of the company’s stock, valued at $109,655,002.80. This represents a 1.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 590,000 shares of company stock worth $2,571,500 in the last three months.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IPX. Jane Street Group LLC raised its holdings in 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 buying an additional 13,207 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in IperionX during the 2nd quarter valued at $66,000. Bank of America Corp DE boosted its stake 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 purchasing an additional 14,467 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of IperionX in the 3rd quarter worth $36,000. Finally, Private Advisor Group LLC bought a new stake in shares of IperionX in the 3rd quarter worth $405,000. 2.76% of the stock is owned by hedge funds and other institutional investors.

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.