IperionX Limited (NASDAQ:IPX) Short Interest Update

IperionX Limited (NASDAQ:IPX) saw a large drop in short interest in October. As of October 15th, there was short interest totalling 35,400 shares, a drop of 11.1% from the September 30th total of 39,800 shares. Based on an average daily volume of 29,200 shares, the short-interest ratio is currently 1.2 days.

IperionX Price Performance

Shares of NASDAQ:IPX traded down $0.72 during midday trading on Thursday, reaching $21.65. The company had a trading volume of 33,225 shares, compared to its average volume of 31,073. The company has a fifty day simple moving average of $20.38 and a two-hundred day simple moving average of $16.53. IperionX has a 1-year low of $8.40 and a 1-year high of $25.50. The company has a current ratio of 13.62, a quick ratio of 13.61 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Financial Inc. grew its holdings in shares of IperionX by 3.3% during the first quarter. B. Riley Financial Inc. now owns 337,762 shares of the company’s stock valued at $5,036,000 after buying an additional 10,684 shares in the last quarter. Ballentine Partners LLC purchased a new position in IperionX during the 3rd quarter valued at about $529,000. Finally, EntryPoint Capital LLC acquired a new position in shares of IperionX in the 1st quarter valued at about $33,000. 2.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, B. Riley started coverage on shares of IperionX in a research report on Thursday, October 10th. They issued a “buy” rating and a $30.00 price target on the stock.

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.