IperionX (NASDAQ:IPX) Shares Gap Down – Here’s What Happened

IperionX Limited (NASDAQ:IPX)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $27.73, but opened at $26.00. IperionX shares last traded at $26.09, with a volume of 27,831 shares traded.

Analyst Upgrades and Downgrades

Separately, B. Riley initiated coverage on IperionX in a research report on Thursday, October 10th. They set a “buy” rating and a $30.00 price target on the stock.

IperionX Trading Up 1.0 %

The business’s 50-day simple moving average is $29.47 and its 200 day simple moving average is $22.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62.

Hedge Funds Weigh In On IperionX

A number of large investors have recently added to or reduced their stakes in IPX. Symmetry Peak Management LLC bought a new position in shares of IperionX during the third quarter valued at about $228,000. Tidal Investments LLC purchased a new stake in IperionX during the 3rd quarter valued at about $368,000. Ballentine Partners LLC bought a new position in IperionX during the 3rd quarter worth approximately $529,000. Jane Street Group LLC increased its stake in IperionX by 134.2% in the 3rd quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock worth $591,000 after purchasing an additional 15,202 shares during the period. Finally, Stifel Financial Corp increased its stake in IperionX by 34.3% in the 3rd quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock worth $15,671,000 after purchasing an additional 179,650 shares during the period. Hedge funds and other institutional investors own 2.76% of the company’s stock.

IperionX Company Profile

IperionX’s mission is to be the leading developer of low carbon, sustainable, critical material supply chains focused on advanced industries including space, aerospace, electric vehicles and 3D printing. IperionX’s breakthrough titanium technologies have demonstrated the potential to produce titanium products that are sustainable, 100% recyclable, have low carbon intensity and to do so at product qualities that meet or exceed current industry standards.