IperionX (NASDAQ:IPX) Shares Gap Down – Time to Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $49.60, but opened at $46.86. IperionX shares last traded at $46.8040, with a volume of 16,825 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IPX shares. William Blair began coverage on shares of IperionX in a report on Tuesday. They set an “outperform” rating for the company. Wall Street Zen downgraded IperionX from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Roth Capital reiterated a “buy” rating and set a $74.00 price objective (up previously from $64.00) on shares of IperionX in a report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.00.

IperionX Stock Performance

The stock’s 50-day moving average price is $35.95 and its 200 day moving average price is $40.55. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On IperionX

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in IperionX by 684.4% during the second quarter. GAMMA Investing LLC now owns 957 shares of the company’s stock worth $30,000 after buying an additional 835 shares during the last quarter. Cape Investment Advisory Inc. bought a new position in shares of IperionX in the 2nd quarter valued at about $34,000. Jones Financial Companies Lllp bought a new stake in shares of IperionX in the 3rd quarter valued at about $36,000. JPMorgan Chase & Co. acquired a new stake in IperionX in the 2nd quarter valued at about $66,000. Finally, Atlantic Union Bankshares Corp bought a new position in IperionX during the second quarter worth about $220,000. Institutional investors own 2.76% of the company’s stock.

IperionX Company Profile

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.