IperionX (NASDAQ:IPX) Stock Price Down 9.9% – Should You Sell?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s share price was down 9.9% on Thursday . The company traded as low as $28.44 and last traded at $28.4850. Approximately 265,976 shares were traded during mid-day trading, an increase of 181% from the average daily volume of 94,643 shares. The stock had previously closed at $31.61.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on IPX shares. Roth Capital reaffirmed 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. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of IperionX from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.00.

IperionX Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 6.99 and a quick ratio of 6.99. The company’s fifty day moving average is $45.57 and its two-hundred day moving average is $37.42.

Institutional Investors Weigh In On IperionX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IPX. OLD Mission Capital LLC acquired a new stake in IperionX during the first quarter worth about $477,000. Jane Street Group LLC raised its holdings in IperionX by 70.4% in the 1st quarter. Jane Street Group LLC now owns 31,967 shares of the company’s stock worth $575,000 after purchasing an additional 13,207 shares during the period. GAMMA Investing LLC raised its holdings in IperionX by 684.4% in the 2nd quarter. GAMMA Investing LLC now owns 957 shares of the company’s stock worth $30,000 after purchasing an additional 835 shares during the period. Atlantic Union Bankshares Corp purchased a new position in IperionX during the second quarter worth approximately $220,000. Finally, JPMorgan Chase & Co. acquired a new stake in IperionX in the second quarter valued at approximately $66,000. 2.76% of the stock is owned by institutional investors and hedge funds.

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.