ioneer (NASDAQ:IONR) Stock Price Up 5.9% – Here’s Why

ioneer Ltd (NASDAQ:IONR – Get Free Report) rose 5.9% during trading on Monday. The company traded as high as $2.72 and last traded at $2.70. 44,947 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 108,377 shares. The stock had previously closed at $2.55.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IONR shares. Wall Street Zen upgraded shares of ioneer from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of ioneer in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock presently has an average rating of “Sell”.

View Our Latest Stock Analysis on ioneer

ioneer Price Performance

The firm’s fifty day simple moving average is $3.02 and its 200 day simple moving average is $3.82.

ioneer (NASDAQ:IONR – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.03) earnings per share for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in ioneer stock. GK Wealth Management LLC acquired a new position in shares of ioneer Ltd (NASDAQ:IONR – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 32,034 shares of the company’s stock, valued at approximately $139,000.

ioneer Company Profile

(Get Free Report)

ioneer Ltd. is a mining development company focused on producing lithium and boron, two minerals used in electric-vehicle batteries, energy storage, glass, ceramics and other industrial applications. The company is headquartered in Australia and is listed on the Nasdaq Capital Market under the symbol IONR.

ioneer’s principal asset is the Rhyolite Ridge Lithium-Boron Project in Esmeralda County, Nevada. The company is developing the project as an integrated operation designed to produce lithium carbonate and boric acid from mineralized deposits.

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