ioneer (NASDAQ:IONR) Trading Down 1.2% – Here’s Why

Shares of ioneer Ltd (NASDAQ:IONR) fell 1.2% on Friday . The company traded as low as $3.85 and last traded at $3.99. 20,544 shares were traded during mid-day trading, a decline of 65% from the average session volume of 58,632 shares. The stock had previously closed at $4.04.

Analyst Ratings Changes

Several research firms have commented on IONR. Wall Street Zen upgraded shares of ioneer to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ioneer in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

ioneer Price Performance

The business has a 50-day moving average of $5.01 and a 200-day moving average of $4.57.

Hedge Funds Weigh In On ioneer

A number of large investors have recently made changes to their positions in IONR. Bank of America Corp DE purchased a new stake in ioneer in the 4th quarter worth about $26,000. Brookwood Investment Group LLC bought a new position in shares of ioneer during the fourth quarter valued at approximately $55,000. Pekin Hardy Strauss Inc. bought a new position in shares of ioneer during the fourth quarter valued at approximately $77,000. HRT Financial LP purchased a new stake in shares of ioneer in the fourth quarter worth approximately $83,000. Finally, Marshall Wace LLP bought a new stake in shares of ioneer during the 4th quarter worth approximately $793,000.

ioneer Company Profile

ioneer Ltd. is a mineral exploration and development company focused on advancing its flagship Rhyolite Ridge lithium-boron project in Nevada. The company’s core business activities center on developing a vertically integrated supply of critical battery minerals, including lithium carbonate and boric acid, to support the growing electric vehicle and energy storage markets. ioneer’s Rhyolite Ridge project is one of the only known deposits globally that contains both lithium and boron in economically recoverable concentrations, positioning the company to deliver a differentiated product to downstream battery and industrial users.

Founded and listed on the Australian Securities Exchange in the late 2010s under its original name, the company rebranded to ioneer in 2018 to reflect a strategic focus on innovation in battery metals.