Short Interest in IperionX Limited (NASDAQ:IPX) Decreases By 31.5%

IperionX Limited (NASDAQ:IPX) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 46,100 shares, a decline of 31.5% from the October 31st total of 67,300 shares. Based on an average trading volume of 40,100 shares, the days-to-cover ratio is currently 1.1 days.

Analysts Set New Price Targets

Separately, B. Riley assumed coverage on IperionX in a research note on Thursday, October 10th. They issued a “buy” rating and a $30.00 price objective for the company.

Institutional Trading of IperionX

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ballentine Partners LLC acquired a new position in IperionX during the third quarter worth approximately $529,000. Jane Street Group LLC grew its stake in shares of IperionX by 134.2% during the 3rd quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock valued at $591,000 after buying an additional 15,202 shares during the period. Tidal Investments LLC purchased a new stake in shares of IperionX during the 3rd quarter valued at $368,000. Stifel Financial Corp increased its holdings in shares of IperionX by 34.3% during the 3rd quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock worth $15,671,000 after buying an additional 179,650 shares during the last quarter. Finally, Symmetry Peak Management LLC purchased a new position in shares of IperionX in the 3rd quarter worth $228,000. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

IperionX Stock Down 1.0 %

NASDAQ IPX traded down $0.28 during trading hours on Friday, reaching $29.10. The company’s stock had a trading volume of 17,640 shares, compared to its average volume of 32,101. 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 company’s 50-day moving average is $23.63 and its two-hundred day moving average is $18.19. IperionX has a fifty-two week low of $8.53 and a fifty-two week high of $30.20.

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.