IperionX (NASDAQ:IPX) Shares Gap Up – Here’s Why

IperionX Limited (NASDAQ:IPX) 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.

Analyst Upgrades and Downgrades

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

IperionX Trading Up 2.2 %

The company’s 50 day moving average is $25.89 and its 200 day moving average is $20.01. The company has a quick ratio of 13.61, a current ratio of 13.62 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On IperionX

Institutional investors have recently modified their holdings of the stock. Ballentine Partners LLC bought a new position in IperionX in the third quarter worth approximately $529,000. Stifel Financial Corp grew its position 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 in the last quarter. Tidal Investments LLC bought a new position in shares of IperionX during the 3rd quarter worth $368,000. Symmetry Peak Management LLC purchased a new position in shares of IperionX during the third quarter valued at $228,000. Finally, Jane Street Group LLC raised its holdings 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 acquiring an additional 15,202 shares in the last quarter. 2.76% of the stock is owned by hedge funds and other institutional investors.

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.