IperionX Limited (NASDAQ:IPX – Get Free Report) traded down 7.4% on Wednesday after B. Riley lowered their price target on the stock from $30.00 to $28.00. B. Riley currently has a buy rating on the stock. IperionX traded as low as $20.26 and last traded at $20.30. 16,660 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 46,258 shares. The stock had previously closed at $21.93.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of IperionX by 479.2% during the 1st quarter. GAMMA Investing LLC now owns 2,195 shares of the company’s stock valued at $39,000 after purchasing an additional 1,816 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in IperionX during the fourth quarter worth about $241,000. Citadel Advisors LLC bought a new stake in shares of IperionX during the fourth quarter valued at approximately $283,000. Corigliano Investment Advisers LLC acquired a new position in shares of IperionX in the 4th quarter valued at $344,000. Finally, Tidal Investments LLC acquired a new position in IperionX in the third quarter worth about $368,000. 2.76% of the stock is owned by hedge funds and other institutional investors.
IperionX Stock Down 8.7 %
The company has a current ratio of 13.62, a quick ratio of 13.61 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $20.10 and a 200 day moving average of $24.59.
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.
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