Short Interest in IperionX Limited (NASDAQ:IPX) Declines By 11.1%

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

Analyst Upgrades and Downgrades

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

Institutional Trading of IperionX

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. B. Riley Financial Inc. raised its stake in shares of IperionX by 3.3% in the 1st quarter. B. Riley Financial Inc. now owns 337,762 shares of the company’s stock valued at $5,036,000 after acquiring an additional 10,684 shares in the last quarter. EntryPoint Capital LLC acquired a new position in IperionX during the first quarter valued at approximately $33,000. Finally, Ballentine Partners LLC acquired a new position in IperionX during the third quarter valued at approximately $529,000. Institutional investors and hedge funds own 2.76% of the company’s stock.

IperionX Price Performance

NASDAQ:IPX traded down $0.72 during trading hours on Thursday, reaching $21.65. The company’s stock had a trading volume of 33,225 shares, compared to its average volume of 31,073. The company has a current ratio of 13.62, a quick ratio of 13.61 and a debt-to-equity ratio of 0.02. IperionX has a one year low of $8.40 and a one year high of $25.50. The business’s 50-day moving average is $20.38 and its 200-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.