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

IperionX Limited Sponsored ADR (NASDAQ:IPX) shares gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

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

IperionX Stock Performance

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

Institutional Trading of IperionX

Hedge funds and other institutional investors have recently bought and sold shares of the company. Thomist Capital Management LP acquired a new position in IperionX in the 2nd quarter valued at $59,384,000. Van ECK Associates Corp acquired a new stake in shares of IperionX during the third quarter worth $40,997,000. Jones Financial Companies Lllp purchased a new stake in shares of IperionX in the third quarter valued at $36,000. Cape Investment Advisory Inc. acquired a new position in IperionX in the second quarter valued at $34,000. Finally, Osaic Holdings Inc. increased its stake in IperionX by 7.7% in the second quarter. Osaic Holdings Inc. now owns 70,325 shares of the company’s stock valued at $2,215,000 after purchasing an additional 5,000 shares during the last quarter. 2.76% of the stock is owned by hedge funds and other institutional investors.

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.