Short Interest in IperionX Limited (NASDAQ:IPX) Expands By 5.3%

IperionX Limited (NASDAQ:IPX - Get Free Report) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 55,400 shares, an increase of 5.3% from the December 31st total of 52,600 shares. Based on an average daily volume of 49,900 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Trading of IperionX

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

IperionX Price Performance

NASDAQ:IPX traded down $0.31 during midday trading on Thursday, reaching $27.05. The stock had a trading volume of 108,432 shares, compared to its average volume of 63,363. The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62. The firm has a fifty day simple moving average of $29.14 and a two-hundred day simple moving average of $23.21. IperionX has a 12-month low of $12.00 and a 12-month high of $38.93.

Analysts Set New Price Targets

Separately, B. Riley started coverage on IperionX in a research note on Thursday, October 10th. They set a "buy" rating and a $30.00 price objective for the company.

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.