IperionX (NASDAQ:IPX) Trading Down 6% – Here’s What Happened

IperionX Limited (NASDAQ:IPX)’s stock price dropped 6% during mid-day trading on Friday . The company traded as low as $33.27 and last traded at $33.27. Approximately 35,515 shares were traded during trading, a decline of 39% from the average daily volume of 58,430 shares. The stock had previously closed at $35.40.

Wall Street Analysts Forecast Growth

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

IperionX Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62. The business’s 50 day simple moving average is $27.75 and its 200-day simple moving average is $21.05.

Institutional Investors Weigh In On IperionX

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPX. Symmetry Peak Management LLC acquired a new position in shares of IperionX during the 3rd quarter worth $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 valued at $591,000 after acquiring an additional 15,202 shares during the last quarter. Tidal Investments LLC acquired a new position in IperionX during the third quarter worth about $368,000. Ballentine Partners LLC bought a new position in shares of IperionX in the third quarter worth about $529,000. Finally, Stifel Financial Corp boosted 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 valued at $15,671,000 after purchasing an additional 179,650 shares in the last quarter. 2.76% of the stock is currently owned by 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.