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

IperionX Limited (NASDAQ:IPX) shares gapped down prior to trading on Tuesday . The stock had previously closed at $38.02, but opened at $36.19. IperionX shares last traded at $35.03, with a volume of 34,436 shares changing hands.

Wall Street Analysts Forecast Growth

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

IperionX Trading Down 9.5 %

The company’s fifty day simple moving average is $27.23 and its 200-day simple moving average is $20.80. The company has a current ratio of 13.62, a quick ratio of 13.61 and a debt-to-equity ratio of 0.02.

Institutional Trading of IperionX

A number of institutional investors have recently made changes to their positions in the company. Ballentine Partners LLC acquired a new stake in shares of IperionX in the third quarter valued at approximately $529,000. Stifel Financial Corp increased its stake in shares of IperionX by 34.3% in the 3rd quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock worth $15,671,000 after acquiring an additional 179,650 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of IperionX during the 3rd quarter worth $368,000. Symmetry Peak Management LLC acquired a new position in shares of IperionX during the 3rd quarter valued at about $228,000. Finally, Jane Street Group LLC increased 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 last quarter. 2.76% of the stock is owned by institutional investors and hedge funds.

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.