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

IperionX Limited (NASDAQ:IPX) shares gapped down prior to trading on Monday . The stock had previously closed at $29.10, but opened at $28.50. IperionX shares last traded at $28.41, with a volume of 8,574 shares changing hands.

Analyst Ratings Changes

Separately, B. Riley began coverage on shares of IperionX in a research note on Thursday, October 10th. They issued a “buy” rating and a $30.00 price target on the stock.

IperionX Stock Performance

The company has a quick ratio of 13.61, a current ratio of 13.62 and a debt-to-equity ratio of 0.02. The stock’s 50 day simple moving average is $23.82 and its two-hundred day simple moving average is $18.37.

Institutional Trading of IperionX

A number of hedge funds and other institutional investors have recently made changes to their positions in IPX. Symmetry Peak Management LLC acquired a new position in IperionX during the third quarter worth $228,000. Tidal Investments LLC acquired a new position in IperionX during the third quarter worth $368,000. Ballentine Partners LLC bought a new position in IperionX during the third quarter worth $529,000. Jane Street Group LLC boosted its position in IperionX by 134.2% during the third 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 boosted its position in IperionX by 34.3% during the third 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. 2.76% of the stock is currently owned by institutional investors and hedge funds.

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.