IperionX (NASDAQ:IPX) Price Target Lowered to $28.00 at B. Riley

IperionX (NASDAQ:IPX) had its price objective cut by B. Riley from $30.00 to $28.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

IperionX Stock Performance

NASDAQ:IPX opened at $21.93 on Tuesday. The firm’s fifty day simple moving average is $20.22 and its 200 day simple moving average is $24.62. The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62. IperionX has a twelve month low of $12.28 and a twelve month high of $38.93.

Institutional Trading of IperionX

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in IperionX by 479.2% during the 1st quarter. GAMMA Investing LLC now owns 2,195 shares of the company’s stock valued at $39,000 after purchasing an additional 1,816 shares in the last quarter. Thomist Capital Management LP acquired a new stake in shares of IperionX during the fourth quarter valued at about $32,305,000. Corigliano Investment Advisers LLC purchased a new stake in shares of IperionX during the fourth quarter worth about $344,000. Citadel Advisors LLC acquired a new position in shares of IperionX in the fourth quarter worth about $283,000. Finally, Bank of America Corp DE lifted its stake in shares of IperionX by 15.8% in the fourth quarter. Bank of America Corp DE now owns 24,193 shares of the company’s stock worth $832,000 after acquiring an additional 3,293 shares in the last quarter. Hedge funds and other 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.