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

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $49.61, but opened at $43.18. IperionX shares last traded at $41.3710, with a volume of 155,806 shares traded.

Analyst Ratings Changes

A number of research analysts have recently commented on IPX shares. Roth Mkm reaffirmed a “buy” rating and set a $74.00 price objective on shares of IperionX in a research note on Tuesday, January 20th. William Blair began coverage on shares of IperionX in a report on Tuesday, January 13th. They issued an “outperform” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

IperionX Stock Down 16.9%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.99 and a current ratio of 6.99. The stock has a 50-day simple moving average of $46.75 and a 200-day simple moving average of $43.76.

Institutional Trading of IperionX

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Thomist Capital Management LP purchased a new position in IperionX in the second quarter valued at approximately $59,384,000. Van ECK Associates Corp purchased a new stake in IperionX during the third quarter worth approximately $40,997,000. XTX Topco Ltd acquired a new stake in shares of IperionX in the fourth quarter worth $302,000. Man Group plc acquired a new stake in shares of IperionX in the fourth quarter worth $257,000. Finally, DV Equities LLC purchased a new position in shares of IperionX in the 4th quarter valued at $178,000. Institutional investors and hedge funds own 2.76% of the company’s stock.

About IperionX

IperionX (NASDAQ: IPX) is a mineral technology company focused on the production and commercialization of high‐purity titanium and zirconium products. The company’s core activities include the development of advanced mineral sands projects and the deployment of proprietary processing technologies aimed at supplying feedstocks to aerospace, defense, additive manufacturing and battery markets.

At the heart of IperionX’s operations is the Stony Creek Project in Virginia, where the company holds significant mineral sands rights.