IperionX (NASDAQ:IPX) Chairman Todd Hannigan Purchases 225,000 Shares

IperionX Limited Sponsored ADR (NASDAQ:IPX) Chairman Todd Hannigan bought 225,000 shares of the business’s stock in a transaction on Friday, July 10th. The stock was acquired at an average cost of $3.58 per share, for a total transaction of $805,500.00. Following the acquisition, the chairman directly owned 26,333,334 shares of the company’s stock, valued at $94,273,335.72. The trade was a 0.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, July 13th, Todd Hannigan bought 300,000 shares of IperionX stock. The shares were bought at an average cost of $3.59 per share, with a total value of $1,077,000.00.
• On Tuesday, April 28th, Todd Hannigan purchased 220,000 shares of IperionX stock. The shares were bought at an average price of $4.48 per share, for a total transaction of $985,600.00.
• On Wednesday, April 29th, Todd Hannigan purchased 260,000 shares of IperionX stock. The stock was bought at an average cost of $4.20 per share, for a total transaction of $1,092,000.00.

IperionX Stock Performance

NASDAQ:IPX opened at $24.67 on Tuesday. IperionX Limited Sponsored ADR has a 12-month low of $21.66 and a 12-month high of $61.45. 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 business has a 50 day simple moving average of $34.10 and a 200 day simple moving average of $37.43.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research report on Tuesday, April 21st. Roth Capital reiterated a “buy” rating on shares of IperionX in a research report on Monday, June 8th. Alliance Global Partners reissued a “buy” rating on shares of IperionX in a research note on Tuesday, April 28th. Finally, BTIG Research upped their target price on shares of IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, IperionX currently has a consensus rating of “Moderate Buy” and an average price target of $60.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp increased its holdings in shares of IperionX by 61.0% during the fourth quarter. Van ECK Associates Corp now owns 1,337,343 shares of the company’s stock valued at $48,392,000 after purchasing an additional 506,612 shares during the period. Millennium Management LLC acquired a new stake in IperionX in the fourth quarter worth about $4,249,000. Jane Street Group LLC lifted its holdings in IperionX by 62.5% in the fourth quarter. Jane Street Group LLC now owns 129,020 shares of the company’s stock worth $4,669,000 after purchasing an additional 49,645 shares during the period. Private Advisor Group LLC grew its position in IperionX by 69.9% in the 1st 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 in the last quarter. Finally, Bank of America Corp DE grew its position in IperionX by 69.0% in 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. Institutional investors own 2.76% of the company’s stock.

About IperionX

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.