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

IperionX Limited Sponsored ADR (NASDAQ:IPX) gapped down before the market opened on Wednesday . The stock had previously closed at $37.47, but opened at $35.75. IperionX shares last traded at $33.75, with a volume of 223,062 shares trading hands.

Analyst Ratings Changes

Several research analysts have issued reports on IPX shares. Roth Capital reissued a “buy” rating and issued a $74.00 target price (up from $64.00) on shares of IperionX in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a report on Wednesday, October 8th. Finally, Wall Street Zen cut IperionX from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.00.

IperionX Trading Down 8.8%

The firm’s fifty day moving average price is $46.94 and its 200 day moving average price is $37.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.99 and a quick ratio of 6.99.

Institutional Investors Weigh In On IperionX

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