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

IperionX Limited (NASDAQ:IPX)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $22.65, but opened at $21.38. IperionX shares last traded at $21.81, with a volume of 22,082 shares.

IperionX Stock Down 6.5 %

The firm’s 50 day simple moving average is $28.18 and its two-hundred day simple moving average is $24.83. 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 Investors Weigh In On IperionX

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in IperionX by 15.8% in the 4th quarter. Bank of America Corp DE now owns 24,193 shares of the company’s stock valued at $832,000 after acquiring an additional 3,293 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in IperionX in the fourth quarter valued at about $241,000. Citadel Advisors LLC bought a new stake in IperionX during the fourth quarter worth about $283,000. Corigliano Investment Advisers LLC acquired a new stake in IperionX during the fourth quarter worth about $344,000. Finally, Symmetry Peak Management LLC bought a new position in IperionX in the 3rd quarter valued at about $228,000. 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.