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

IperionX Limited (NASDAQ:IPX) gapped down before the market opened on Tuesday . The stock had previously closed at $28.33, but opened at $27.55. IperionX shares last traded at $27.38, with a volume of 5,566 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on IPX shares. B. Riley cut their price target on IperionX from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen upgraded IperionX from a “sell” rating to a “hold” rating in a research note on Friday, June 6th.

IperionX Price Performance

The firm’s 50 day moving average is $21.19 and its 200 day moving average is $24.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62.

Hedge Funds Weigh In On IperionX

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of IperionX by 479.2% in the 1st quarter. GAMMA Investing LLC now owns 2,195 shares of the company’s stock worth $39,000 after purchasing an additional 1,816 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of IperionX during the fourth quarter valued at approximately $241,000. Citadel Advisors LLC purchased a new position in IperionX during the 4th quarter valued at $283,000. Corigliano Investment Advisers LLC bought a new position in IperionX in the fourth quarter worth about $344,000. Finally, Marshall Wace LLP bought a new position in shares of IperionX in the 4th quarter worth approximately $465,000. 2.76% of the stock is currently owned by 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.