IperionX (NASDAQ:IPX) Shares Down 4.3% – Here’s What Happened

IperionX Limited (NASDAQ:IPX) fell 4.3% during trading on Thursday . The stock traded as low as $27.25 and last traded at $27.25. 8,723 shares traded hands during trading, a decline of 87% from the average session volume of 65,556 shares. The stock had previously closed at $28.47.

Analysts Set New Price Targets

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

IperionX Stock Down 1.4 %

The company has a current ratio of 13.62, a quick ratio of 13.61 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $29.41 and a 200-day moving average of $22.24.

Institutional Investors Weigh In On IperionX

Hedge funds and other institutional investors have recently made changes to their positions in the company. Symmetry Peak Management LLC acquired a new position in IperionX in the third quarter worth approximately $228,000. Jane Street Group LLC grew its position in IperionX by 134.2% in the third quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock worth $591,000 after acquiring an additional 15,202 shares in the last quarter. Tidal Investments LLC bought a new stake in IperionX in the third quarter worth approximately $368,000. Ballentine Partners LLC acquired a new position in shares of IperionX during the 3rd quarter worth $529,000. Finally, Stifel Financial Corp raised its holdings in shares of IperionX by 34.3% during the 3rd 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 in the last quarter. 2.76% of the stock is owned by hedge funds and other institutional investors.

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.