IperionX Limited (NASDAQ:IPX) Short Interest Update

IperionX Limited (NASDAQ:IPX) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 35,400 shares, a drop of 11.1% from the September 30th total of 39,800 shares. Based on an average daily trading volume, of 29,200 shares, the short-interest ratio is currently 1.2 days.

Analysts Set New Price Targets

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

IperionX Price Performance

NASDAQ IPX traded down $0.72 during trading hours on Thursday, hitting $21.65. 33,225 shares of the company’s stock traded hands, compared to its average volume of 31,073. The company has a quick ratio of 13.61, a current ratio of 13.62 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average is $20.38 and its 200-day moving average is $16.53. IperionX has a 52-week low of $8.40 and a 52-week high of $25.50.

Institutional Trading of IperionX

Several institutional investors and hedge funds have recently bought and sold shares of IPX. B. Riley Financial Inc. increased its stake in shares of IperionX by 3.3% during the first quarter. B. Riley Financial Inc. now owns 337,762 shares of the company’s stock worth $5,036,000 after buying an additional 10,684 shares during the period. EntryPoint Capital LLC purchased a new position in IperionX in the first quarter worth approximately $33,000. Finally, Ballentine Partners LLC acquired a new position in IperionX during the 3rd quarter worth approximately $529,000. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

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.