IperionX (NASDAQ:IPX) Shares Gap Down – Here’s Why

Shares of IperionX Limited (NASDAQ:IPX) gapped down prior to trading on Monday . The stock had previously closed at $27.97, but opened at $27.11. IperionX shares last traded at $26.06, with a volume of 21,460 shares traded.

IperionX Stock Performance

The firm’s 50 day moving average price is $28.69 and its 200-day moving average price is $24.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.62 and a quick ratio of 13.61.

Institutional Trading of IperionX

Hedge funds have recently modified their holdings of the company. Thomist Capital Management LP bought a new stake in shares of IperionX in the fourth quarter worth about $32,305,000. Corigliano Investment Advisers LLC bought a new stake in IperionX in the 4th quarter valued at $344,000. Citadel Advisors LLC acquired a new stake in shares of IperionX in the 4th quarter valued at about $283,000. Bank of America Corp DE lifted its holdings in shares of IperionX by 15.8% in the fourth quarter. Bank of America Corp DE now owns 24,193 shares of the company’s stock valued at $832,000 after purchasing an additional 3,293 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of IperionX during the fourth quarter worth about $602,000. 2.76% of the stock is currently owned by institutional investors and hedge funds.

IperionX Company Profile

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.