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

IperionX Limited (NASDAQ:IPX) shares gapped down before the market opened on Wednesday . The stock had previously closed at $27.73, but opened at $26.00. IperionX shares last traded at $26.09, with a volume of 27,831 shares changing hands.

Analysts Set New Price Targets

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

IperionX Price Performance

The firm has a fifty day simple moving average of $29.47 and a two-hundred day simple moving average of $22.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.62 and a quick ratio of 13.61.

Institutional Trading of IperionX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IPX. Symmetry Peak Management LLC purchased a new position in IperionX during the 3rd quarter valued at $228,000. Tidal Investments LLC purchased a new position in shares of IperionX during the third quarter valued at about $368,000. Ballentine Partners LLC bought a new position in IperionX in the third quarter worth about $529,000. Jane Street Group LLC lifted its stake in shares of IperionX by 134.2% in the 3rd quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock valued at $591,000 after purchasing an additional 15,202 shares during the period. Finally, Stifel Financial Corp grew its stake in IperionX by 34.3% in the third quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock worth $15,671,000 after purchasing an additional 179,650 shares during the period. Hedge funds and other institutional investors own 2.76% of the company’s stock.

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.