ioneer (NASDAQ:IONR) Trading Down 1.2% – Here’s What Happened

ioneer Ltd (NASDAQ:IONR) was down 1.2% on Friday . The company traded as low as $3.85 and last traded at $3.99. Approximately 20,544 shares traded hands during trading, a decline of 65% from the average daily volume of 58,632 shares. The stock had previously closed at $4.04.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ioneer in a research report on Thursday, January 22nd. Wall Street Zen raised shares of ioneer to a “hold” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

ioneer Stock Down 1.2%

The company has a 50 day moving average of $5.01 and a 200-day moving average of $4.58.

Hedge Funds Weigh In On ioneer

Hedge funds have recently bought and sold shares of the business. Marshall Wace LLP acquired a new position in shares of ioneer during the 4th quarter worth approximately $793,000. Millennium Management LLC bought a new stake in shares of ioneer in the fourth quarter valued at approximately $96,000. OLD Mission Capital LLC acquired a new stake in ioneer during the fourth quarter worth approximately $88,000. HRT Financial LP acquired a new stake in ioneer during the fourth quarter worth approximately $83,000. Finally, XTX Topco Ltd bought a new position in ioneer during the 4th quarter worth $54,000.

ioneer Company Profile

ioneer Ltd. is a mineral exploration and development company focused on advancing its flagship Rhyolite Ridge lithium-boron project in Nevada. The company’s core business activities center on developing a vertically integrated supply of critical battery minerals, including lithium carbonate and boric acid, to support the growing electric vehicle and energy storage markets. ioneer’s Rhyolite Ridge project is one of the only known deposits globally that contains both lithium and boron in economically recoverable concentrations, positioning the company to deliver a differentiated product to downstream battery and industrial users.

Founded and listed on the Australian Securities Exchange in the late 2010s under its original name, the company rebranded to ioneer in 2018 to reflect a strategic focus on innovation in battery metals.