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

IperionX Limited (NASDAQ:IPX) gapped down prior to trading 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 trading hands.

Analysts Set New Price Targets

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

IperionX Trading Down 6.3 %

The firm has a fifty day moving average of $29.43 and a 200 day moving average of $22.39. The company has a current ratio of 13.62, a quick ratio of 13.61 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On IperionX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IPX. Tidal Investments LLC acquired a new stake in IperionX in the third quarter valued at $368,000. Jane Street Group LLC raised its stake in IperionX by 134.2% during the third 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 period. Stifel Financial Corp boosted its stake in 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 acquiring an additional 179,650 shares during the period. Symmetry Peak Management LLC bought a new position in shares of IperionX during the third quarter valued at approximately $228,000. Finally, Ballentine Partners LLC acquired a new stake in shares of IperionX during the 3rd quarter worth approximately $529,000. 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.