IperionX (NASDAQ:IPX) Shares Gap Down – Should You Sell?

IperionX Limited (NASDAQ:IPX)’s stock price 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 changing hands.

Wall Street Analysts Forecast Growth

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 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 stock’s 50-day moving average is $29.43 and its two-hundred day moving average is $22.39.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ballentine Partners LLC purchased a new position in shares of IperionX in the 3rd quarter valued at $529,000. Symmetry Peak Management LLC purchased a new stake in shares of IperionX in the 3rd quarter valued at about $228,000. Stifel Financial Corp boosted its position in shares of IperionX by 34.3% in the 3rd quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock valued at $15,671,000 after purchasing an additional 179,650 shares during the period. Jane Street Group LLC grew its stake in IperionX by 134.2% during the 3rd 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 last quarter. Finally, Tidal Investments LLC purchased a new stake in IperionX in the third quarter valued at approximately $368,000. 2.76% of the stock is owned by institutional investors and hedge funds.

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.