IperionX (NASDAQ:IPX) Shares Down 3.8% - Should You Sell?

IperionX Limited (NASDAQ:IPX - Get Free Report)'s stock price was down 3.8% during mid-day trading on Thursday . The company traded as low as $26.81 and last traded at $27.08. Approximately 4,928 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 51,077 shares. The stock had previously closed at $28.14.

Analysts Set New Price Targets

Several research firms have recently weighed in on IPX. Wall Street Zen raised IperionX from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. B. Riley lowered their price objective on IperionX from $30.00 to $28.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd.

IperionX Trading Down 3.2%

The company has a debt-to-equity ratio of 0.02, a current ratio of 13.62 and a quick ratio of 13.61. The firm has a 50-day simple moving average of $21.46 and a two-hundred day simple moving average of $24.44.

Hedge Funds Weigh In On IperionX

A number of hedge funds have recently modified their holdings of IPX. Atlantic Union Bankshares Corp acquired a new position in IperionX during the 4th quarter valued at about $241,000. Sowell Financial Services LLC acquired a new stake in shares of IperionX in the 4th quarter valued at approximately $1,597,000. Marshall Wace LLP acquired a new stake in shares of IperionX in the 4th quarter valued at approximately $465,000. Stifel Financial Corp increased its stake in IperionX by 27.9% during the 4th quarter. Stifel Financial Corp now owns 900,237 shares of the company's stock worth $30,968,000 after purchasing an additional 196,558 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in IperionX during the 4th quarter worth approximately $602,000. 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.