IperionX (NASDAQ:IPX) Shares Gap Down – Here’s Why

IperionX Limited (NASDAQ:IPX) shares gapped down prior to trading on Monday . The stock had previously closed at $29.10, but opened at $28.50. IperionX shares last traded at $28.41, with a volume of 8,574 shares trading hands.

Wall Street Analysts Forecast Growth

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

IperionX Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 13.62 and a quick ratio of 13.61. The firm’s 50 day moving average price is $23.82 and its 200-day moving average price is $18.37.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Symmetry Peak Management LLC bought a new position in IperionX during the 3rd quarter worth approximately $228,000. Tidal Investments LLC bought a new position in IperionX during the 3rd quarter worth approximately $368,000. Ballentine Partners LLC bought a new position in IperionX during the 3rd quarter worth approximately $529,000. Jane Street Group LLC boosted its stake in IperionX by 134.2% during the 3rd quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock worth $591,000 after acquiring an additional 15,202 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in IperionX by 34.3% during the 3rd quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock worth $15,671,000 after acquiring an additional 179,650 shares during the last quarter. 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.