IperionX (NASDAQ:IPX) Shares Gap Up – Should You Buy?

IperionX Limited (NASDAQ:IPX)’s share price gapped up before the market opened on Friday . The stock had previously closed at $25.49, but opened at $26.50. IperionX shares last traded at $25.91, with a volume of 2,839 shares traded.

Wall Street Analyst Weigh In

Separately, B. Riley initiated coverage on shares of IperionX in a report on Thursday, October 10th. They set a “buy” rating and a $30.00 price objective on the stock.

IperionX Stock Up 3.2 %

The firm’s fifty day moving average is $29.36 and its 200 day moving average is $22.85. The company has a current ratio of 13.62, a quick ratio of 13.61 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On IperionX

A number of institutional investors have recently modified their holdings of the company. Tidal Investments LLC acquired a new position in shares of IperionX in the 3rd quarter valued at $368,000. Jane Street Group LLC grew its holdings in shares of IperionX by 134.2% in the 3rd quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock worth $591,000 after purchasing an additional 15,202 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of IperionX by 34.3% in the 3rd quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock worth $15,671,000 after purchasing an additional 179,650 shares during the last quarter. Symmetry Peak Management LLC bought a new stake in shares of IperionX in the 3rd quarter worth about $228,000. Finally, Ballentine Partners LLC bought a new stake in shares of IperionX in the 3rd quarter worth about $529,000. Institutional investors own 2.76% of the company’s stock.

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.