IperionX (NASDAQ:IPX) Trading Down 6% – Time to Sell?

IperionX Limited (NASDAQ:IPX)’s stock price dropped 6% during trading on Friday . The company traded as low as $33.27 and last traded at $33.27. Approximately 35,515 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 58,430 shares. The stock had previously closed at $35.40.

Wall Street Analyst Weigh In

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

IperionX Stock Performance

The company has a 50-day moving average price of $27.52 and a two-hundred day moving average price of $20.90. 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

A number of hedge funds have recently made changes to their positions in the stock. Symmetry Peak Management LLC bought a new position in shares of IperionX during the third quarter valued at approximately $228,000. Tidal Investments LLC purchased a new stake in IperionX during the third quarter valued at approximately $368,000. Ballentine Partners LLC purchased a new stake in IperionX during the third quarter valued at approximately $529,000. Jane Street Group LLC lifted its position in IperionX by 134.2% during the third quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock valued at $591,000 after acquiring an additional 15,202 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in IperionX by 34.3% during the third quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock valued at $15,671,000 after acquiring an additional 179,650 shares during the last quarter. 2.76% of the stock is currently 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.