IperionX (NASDAQ:IPX) Shares Gap Down – Should You Sell?

IperionX Limited (NASDAQ:IPX)’s share price gapped down before the market opened 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.

Analyst Upgrades and Downgrades

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

IperionX Trading Down 1.1 %

The firm has a fifty day simple moving average of $24.17 and a 200 day simple moving average of $18.57. 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 Investors Weigh In On IperionX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ballentine Partners LLC purchased a new stake in shares of IperionX during the third 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 purchasing an additional 15,202 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of IperionX during the third quarter worth $368,000. Stifel Financial Corp raised its position in shares of IperionX by 34.3% in the third quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock valued at $15,671,000 after buying an additional 179,650 shares during the last quarter. Finally, Symmetry Peak Management LLC purchased a new position in shares of IperionX in the third quarter worth about $228,000. 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.