IperionX Limited (NASDAQ:IPX) Sees Large Drop in Short Interest

IperionX Limited (NASDAQ:IPX) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 35,400 shares, a decrease of 11.1% from the September 30th total of 39,800 shares. Based on an average daily volume of 29,200 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IPX. Ballentine Partners LLC bought a new position in shares of IperionX during the 3rd quarter worth about $529,000. B. Riley Financial Inc. lifted its holdings in shares of IperionX by 3.3% during the 1st quarter. B. Riley Financial Inc. now owns 337,762 shares of the company’s stock worth $5,036,000 after acquiring an additional 10,684 shares during the period. Finally, EntryPoint Capital LLC bought a new position in shares of IperionX during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 2.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

IperionX Price Performance

NASDAQ IPX traded down $0.72 on Thursday, hitting $21.65. The stock had a trading volume of 33,225 shares, compared to its average volume of 31,073. IperionX has a one year low of $8.40 and a one year high of $25.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.62 and a quick ratio of 13.61. The company’s 50-day moving average is $20.38 and its two-hundred day moving average is $16.53.

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.