IperionX (NASDAQ:IPX) Shares Down 2% – Here’s Why

IperionX Limited (NASDAQ:IPX)’s stock price traded down 2% on Monday . The stock traded as low as $19.86 and last traded at $19.79. 4,733 shares traded hands during trading, a decline of 88% from the average session volume of 40,192 shares. The stock had previously closed at $20.20.

IperionX Trading Down 0.3 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 13.62 and a quick ratio of 13.61. The firm’s fifty day simple moving average is $24.39 and its 200-day simple moving average is $25.17.

Institutional Investors Weigh In On IperionX

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its stake in IperionX by 15.8% in the 4th 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 during the period. Atlantic Union Bankshares Corp purchased a new stake in IperionX in the 4th quarter valued at about $241,000. Citadel Advisors LLC acquired a new position in shares of IperionX during the 4th quarter valued at about $283,000. Corigliano Investment Advisers LLC purchased a new position in shares of IperionX during the 4th quarter worth about $344,000. Finally, Symmetry Peak Management LLC acquired a new stake in shares of IperionX in the third quarter worth approximately $228,000. 2.76% of the stock is currently owned by hedge funds and other 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.