IperionX (NASDAQ:IPX) Shares Gap Down – Should You Sell?

IperionX Limited (NASDAQ:IPX) gapped down before the market opened on Tuesday . The stock had previously closed at $22.68, but opened at $21.40. IperionX shares last traded at $21.45, with a volume of 11,310 shares trading hands.

Wall Street Analyst Weigh In

Separately, B. Riley initiated coverage on IperionX in a research note on Thursday, October 10th. They issued a “buy” rating and a $30.00 price objective on the stock.

IperionX Price Performance

The company’s 50-day simple moving average is $19.74 and its 200 day simple moving average is $16.31. The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. EntryPoint Capital LLC bought a new stake in shares of IperionX in the 1st quarter valued at approximately $33,000. Ballentine Partners LLC purchased a new stake in IperionX during the 3rd quarter valued at $529,000. Finally, B. Riley Financial Inc. lifted its position in IperionX by 3.3% in the first quarter. B. Riley Financial Inc. now owns 337,762 shares of the company’s stock worth $5,036,000 after buying an additional 10,684 shares during the last quarter. Institutional investors own 2.76% of the company’s stock.

IperionX Company Profile

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.