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

IperionX Limited (NASDAQ:IPX - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $28.33, but opened at $27.55. IperionX shares last traded at $27.38, with a volume of 5,566 shares traded.

Analyst Ratings Changes

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

IperionX Price Performance

The stock has a fifty day simple moving average of $21.19 and a 200 day simple moving average of $24.45. The company has a quick ratio of 13.61, a current ratio of 13.62 and a debt-to-equity ratio of 0.02.

Institutional Trading of IperionX

A number of institutional investors and hedge funds have recently modified their holdings of IPX. Thomist Capital Management LP purchased a new position in IperionX during the fourth quarter valued at $32,305,000. Stifel Financial Corp increased its holdings in shares of IperionX by 27.9% in the fourth 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 during the last quarter. Sowell Financial Services LLC purchased a new stake in IperionX during the fourth quarter valued at approximately $1,597,000. OLD Mission Capital LLC purchased a new stake in IperionX during the first quarter valued at approximately $477,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in IperionX during the fourth quarter valued at approximately $602,000. Institutional investors own 2.76% of the company's stock.

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.