IperionX (NASDAQ:IPX) Shares Gap Down – Here’s What Happened

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $34.71, but opened at $32.00. IperionX shares last traded at $30.3640, with a volume of 27,147 shares.

Analyst Upgrades and Downgrades

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

IperionX Trading Down 9.6%

The firm has a 50 day moving average price of $45.88 and a 200-day moving average price of $37.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.99 and a current ratio of 6.99.

Institutional Investors Weigh In On IperionX

Several institutional investors have recently modified their holdings of IPX. Jones Financial Companies Lllp acquired a new position in IperionX in the third quarter valued at approximately $36,000. GAMMA Investing LLC lifted its stake in shares of IperionX by 684.4% in the 2nd quarter. GAMMA Investing LLC now owns 957 shares of the company’s stock valued at $30,000 after purchasing an additional 835 shares during the period. Cape Investment Advisory Inc. bought a new position in shares of IperionX in the 2nd quarter worth $34,000. JPMorgan Chase & Co. acquired a new stake in shares of IperionX during the second quarter worth $66,000. Finally, Osaic Holdings Inc. increased its holdings in IperionX by 7.7% in the second quarter. Osaic Holdings Inc. now owns 70,325 shares of the company’s stock valued at $2,215,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 2.76% of the company’s 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.