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

IperionX Limited (NASDAQ:IPX) shares gapped down before the market opened on Wednesday . The stock had previously closed at $21.03, but opened at $20.45. IperionX shares last traded at $19.96, with a volume of 4,491 shares trading hands.

IperionX Price Performance

The business has a 50 day moving average of $25.52 and a 200 day moving average of $25.12. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.62 and a quick ratio of 13.61.

Hedge Funds Weigh In On IperionX

A number of hedge funds have recently made changes to their positions in IPX. Thomist Capital Management LP acquired a new stake in shares of IperionX during the 4th quarter valued at about $32,305,000. Stifel Financial Corp lifted its position in shares of IperionX by 27.9% during the 4th quarter. Stifel Financial Corp now owns 900,237 shares of the company’s stock worth $30,968,000 after buying an additional 196,558 shares during the period. Sowell Financial Services LLC acquired a new stake in IperionX in the 4th quarter valued at $1,597,000. Jane Street Group LLC grew its position in IperionX by 134.2% in the third quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock valued at $591,000 after acquiring an additional 15,202 shares during the period. Finally, Bank of America Corp DE raised its stake in IperionX by 15.8% during the fourth quarter. Bank of America Corp DE now owns 24,193 shares of the company’s stock worth $832,000 after acquiring an additional 3,293 shares in the last quarter. Institutional investors and hedge funds 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.