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

Shares of IperionX Limited (NASDAQ:IPX) gapped down before the market opened on Tuesday . The stock had previously closed at $30.19, but opened at $28.18. IperionX shares last traded at $28.00, with a volume of 26,886 shares traded.

Analysts Set New Price Targets

Separately, B. Riley started coverage on shares of IperionX in a report on Thursday, October 10th. They set a “buy” rating and a $30.00 price objective on the stock.

IperionX Trading Down 3.1 %

The stock’s fifty day moving average is $29.27 and its two-hundred day moving average is $22.12. The company has a quick ratio of 13.61, a current ratio of 13.62 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On IperionX

Several institutional investors have recently added to or reduced their stakes in the business. Symmetry Peak Management LLC purchased a new stake in IperionX during the third quarter valued at about $228,000. Jane Street Group LLC lifted its holdings in IperionX by 134.2% during the third quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock valued at $591,000 after purchasing an additional 15,202 shares during the last quarter. Tidal Investments LLC purchased a new stake in IperionX during the third quarter valued at about $368,000. Ballentine Partners LLC purchased a new stake in IperionX during the third quarter valued at about $529,000. Finally, Stifel Financial Corp lifted its holdings in IperionX by 34.3% during the third quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock valued at $15,671,000 after purchasing an additional 179,650 shares during the last quarter. 2.76% of the stock is owned by hedge funds and other institutional investors.

About IperionX

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.