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

IperionX Limited (NASDAQ:IPX)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $29.80, but opened at $30.80. IperionX shares last traded at $30.00, with a volume of 6,780 shares changing hands.

Analyst Upgrades and Downgrades

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

IperionX Stock Performance

The company has a 50-day simple moving average of $25.77 and a 200 day simple moving average of $19.91. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.62 and a quick ratio of 13.61.

Institutional Trading of IperionX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IPX. Stifel Financial Corp boosted its stake 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 acquiring an additional 179,650 shares in the last quarter. Jane Street Group LLC raised its holdings in 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 period. Ballentine Partners LLC purchased a new position in IperionX during the third quarter worth approximately $529,000. Tidal Investments LLC acquired a new stake in IperionX in the third quarter valued at approximately $368,000. Finally, Symmetry Peak Management LLC purchased a new stake in shares of IperionX in the third quarter valued at approximately $228,000. Institutional investors and hedge funds 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.