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

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 IperionX in a research note on Thursday, October 10th. They set a “buy” rating and a $30.00 price objective on the stock.

IperionX Trading Down 7.3 %

The company has a 50 day simple moving average of $29.03 and a two-hundred day simple moving average of $21.97. The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Tidal Investments LLC bought a new position in shares of IperionX during the third quarter valued at approximately $368,000. Jane Street Group LLC grew its stake in shares of 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 buying an additional 15,202 shares during the last quarter. Stifel Financial Corp grew its stake in shares of 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 buying an additional 179,650 shares during the last quarter. Symmetry Peak Management LLC bought a new position in shares of IperionX during the third quarter valued at approximately $228,000. Finally, Ballentine Partners LLC bought a new position in shares of IperionX during the third quarter valued at approximately $529,000. Institutional investors own 2.76% of the company’s stock.

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.