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

IperionX Limited (NASDAQ:IPX) shares gapped down before the market opened 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 trading hands.

Analyst Upgrades and Downgrades

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 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 price of $26.71 and a 200-day moving average price of $20.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Symmetry Peak Management LLC bought a new stake in shares of IperionX in the 3rd quarter valued at approximately $228,000. Jane Street Group LLC lifted 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 buying an additional 15,202 shares during the last quarter. Tidal Investments LLC purchased 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 valued at $529,000. Finally, Stifel Financial Corp raised its stake in shares of IperionX by 34.3% in the third quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock valued at $15,671,000 after acquiring an additional 179,650 shares during the period. Hedge funds and other institutional investors own 2.76% of the company’s stock.

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.