IperionX (NASDAQ:IPX) Shares Gap Down – Time to Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $49.60, but opened at $46.86. IperionX shares last traded at $46.8040, with a volume of 16,825 shares trading hands.

Analyst Ratings Changes

IPX has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of IperionX in a report on Wednesday, October 8th. Roth Capital restated a “buy” rating and set a $74.00 target price (up from $64.00) on shares of IperionX in a research report on Wednesday, October 1st. Wall Street Zen downgraded shares of IperionX from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Finally, William Blair initiated coverage on shares of IperionX in a research note on Tuesday. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

IperionX Stock Performance

The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average price of $36.36 and a 200 day moving average price of $40.70.

Institutional Investors Weigh In On IperionX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IPX. Thomist Capital Management LP acquired a new position in IperionX during the second quarter valued at approximately $59,384,000. Atlantic Union Bankshares Corp bought a new stake in shares of IperionX during the 2nd quarter worth approximately $220,000. GAMMA Investing LLC boosted its holdings 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 buying an additional 835 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of IperionX in the third quarter valued at $40,997,000. Finally, Jones Financial Companies Lllp acquired a new position in IperionX during the third quarter worth $36,000. 2.76% of the stock is currently owned by institutional investors and hedge funds.

About IperionX

IperionX (NASDAQ: IPX) is a mineral technology company focused on the production and commercialization of high‐purity titanium and zirconium products. The company’s core activities include the development of advanced mineral sands projects and the deployment of proprietary processing technologies aimed at supplying feedstocks to aerospace, defense, additive manufacturing and battery markets.

At the heart of IperionX’s operations is the Stony Creek Project in Virginia, where the company holds significant mineral sands rights.