IperionX (NASDAQ:IPX) Trading Down 6% – Here’s Why

IperionX Limited (NASDAQ:IPX) dropped 6% on Friday . The stock traded as low as $33.27 and last traded at $33.27. Approximately 35,515 shares changed hands during trading, a decline of 39% from the average daily volume of 58,430 shares. The stock had previously closed at $35.40.

Wall Street Analyst Weigh In

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

IperionX Price Performance

The business’s fifty day moving average is $27.75 and its 200-day moving average is $21.05. The company has a quick ratio of 13.61, a current ratio of 13.62 and a debt-to-equity ratio of 0.02.

Institutional Trading of IperionX

Several institutional investors have recently modified their holdings of the business. Stifel Financial Corp lifted its holdings 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 buying an additional 179,650 shares during the period. Ballentine Partners LLC acquired a new stake in shares of IperionX in the third quarter valued at about $529,000. Tidal Investments LLC acquired a new position in shares of IperionX in the third quarter worth approximately $368,000. Jane Street Group LLC lifted 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 acquiring an additional 15,202 shares during the period. Finally, Symmetry Peak Management LLC bought a new stake in IperionX in the third quarter valued at approximately $228,000. 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.