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

IperionX Limited (NASDAQ:IPX) gapped down before the market opened on Tuesday . The stock had previously closed at $30.19, but opened at $28.18. IperionX shares last traded at $28.00, with a volume of 26,886 shares changing hands.

Wall Street Analysts Forecast Growth

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

IperionX Trading Down 7.3 %

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 50-day moving average of $29.03 and a two-hundred day moving average of $21.97.

Institutional Investors Weigh In On IperionX

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Stifel Financial Corp raised its holdings in IperionX by 34.3% during 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. Jane Street Group LLC increased its holdings in shares of 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 purchasing an additional 15,202 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of IperionX in the third quarter worth about $529,000. Tidal Investments LLC bought a new stake in shares of IperionX in the third quarter worth about $368,000. Finally, Symmetry Peak Management LLC bought a new stake in shares of IperionX in the third quarter worth about $228,000. 2.76% of the stock is 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.