IperionX (NASDAQ:IPX) Shares Down 4.3% – What’s Next?

IperionX Limited (NASDAQ:IPX)’s share price dropped 4.3% during trading on Thursday . The stock traded as low as $27.25 and last traded at $27.25. Approximately 8,723 shares traded hands during trading, a decline of 87% from the average daily volume of 65,556 shares. The stock had previously closed at $28.47.

Analyst Upgrades and Downgrades

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

IperionX Stock Down 1.4 %

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 business’s 50-day moving average is $29.41 and its 200-day moving average is $22.24.

Institutional Investors Weigh In On IperionX

Large investors have recently bought and sold shares of the business. Stifel Financial Corp lifted its position 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 in the last quarter. Jane Street Group LLC raised 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 last quarter. Ballentine Partners LLC acquired a new position in shares of IperionX during the third quarter worth approximately $529,000. Tidal Investments LLC bought a new stake in shares of IperionX during the third quarter valued at approximately $368,000. Finally, Symmetry Peak Management LLC acquired a new stake in shares of IperionX in the third quarter valued at approximately $228,000. 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.