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

IperionX Limited (NASDAQ:IPX)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $38.02, but opened at $36.19. IperionX shares last traded at $35.03, with a volume of 34,436 shares traded.

Wall Street Analysts Forecast Growth

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

IperionX Price Performance

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 business has a 50-day moving average of $26.71 and a 200 day moving average of $20.55.

Institutional Investors Weigh In On IperionX

Hedge funds have recently modified their holdings of the business. Symmetry Peak Management LLC purchased a new position in IperionX during the third quarter valued at $228,000. Jane Street Group LLC raised its stake 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 buying an additional 15,202 shares during the period. Tidal Investments LLC purchased a new position in shares of IperionX during the 3rd quarter valued at about $368,000. Ballentine Partners LLC purchased a new position in shares of IperionX during the 3rd quarter valued at about $529,000. Finally, Stifel Financial Corp grew its stake in shares of IperionX by 34.3% during the 3rd 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. 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.