IperionX (NASDAQ:IPX) Shares Down 3.3% – Here’s Why

IperionX Limited (NASDAQ:IPX) was down 3.3% during trading on Wednesday . The stock traded as low as $22.54 and last traded at $22.54. Approximately 3,143 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 30,066 shares. The stock had previously closed at $23.30.

Analyst Ratings Changes

Separately, ThinkEquity upgraded IperionX to a “strong-buy” rating in a report on Tuesday, June 25th.

IperionX Stock Down 0.8 %

The firm’s fifty day simple moving average is $17.78 and its 200-day simple moving average is $15.67.

Institutional Trading of IperionX

A hedge fund recently bought a new stake in IperionX stock. EntryPoint Capital LLC acquired a new position in IperionX Limited (NASDAQ:IPX) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,220 shares of the company’s stock, valued at approximately $33,000. 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.