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

Key Points

• IperionX shares gapped down from $47.46 to $45.31 prior to trading, with the stock last trading at $44.73, indicating a notable decrease in value.
• The stock has received a mixture of ratings, with two analysts rating it as a Buy and a consensus target price of $46.00, while Wall Street Zen upgraded its rating from "sell" to "hold."
• Institutional investors have increased their stakes significantly, with GAMMA Investing LLC raising its stake by 684.4% and several new investments totaling over $600,000 in the second quarter.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $47.46, but opened at $45.31. IperionX shares last traded at $44.73, with a volume of 22,803 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Roth Capital started coverage on IperionX in a research report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 target price on the stock. Wall Street Zen upgraded IperionX from a "sell" rating to a "hold" rating in a research report on Saturday. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $46.00.

IperionX Stock Performance

The business has a 50-day moving average price of $41.08 and a 200-day moving average price of $28.95.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPX. GAMMA Investing LLC lifted its holdings in IperionX by 684.4% in the 2nd quarter. GAMMA Investing LLC now owns 957 shares of the company's stock valued at $30,000 after purchasing an additional 835 shares in the last quarter. Cape Investment Advisory Inc. purchased a new position in IperionX in the 2nd quarter valued at $34,000. JPMorgan Chase & Co. purchased a new position in IperionX in the 2nd quarter valued at $66,000. Atlantic Union Bankshares Corp purchased a new position in IperionX in the 2nd quarter valued at $220,000. Finally, Citadel Advisors LLC purchased a new position in IperionX in the 4th quarter valued at $283,000. Hedge funds and other 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.