IperionX (NASDAQ:IPX) Shares Gap Down - Time to 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 traded.

Analyst Upgrades and Downgrades

IPX has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of IperionX from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Roth Capital began coverage on shares of IperionX in a research note on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, IperionX has an average rating of "Buy" and a consensus target price of $46.00.

IperionX Stock Down 4.6%

The stock's fifty day moving average is $39.97 and its two-hundred day moving average is $28.44.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IPX. GAMMA Investing LLC raised its stake in shares of IperionX by 684.4% during the second quarter. GAMMA Investing LLC now owns 957 shares of the company's stock worth $30,000 after acquiring an additional 835 shares in the last quarter. Cape Investment Advisory Inc. bought a new stake in IperionX in the second quarter valued at $34,000. JPMorgan Chase & Co. bought a new stake in IperionX in the second quarter valued at $66,000. Atlantic Union Bankshares Corp bought a new stake in IperionX in the second quarter valued at $220,000. Finally, Citadel Advisors LLC bought a new stake in shares of IperionX during the 4th quarter valued at $283,000. 2.76% of the stock is currently owned by institutional investors.

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.

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