IperionX (NASDAQ:IPX) Sees Unusually-High Trading Volume – Time to Buy?

Shares of IperionX Limited (NASDAQ:IPX) saw strong trading volume on Friday . 19,422 shares traded hands during trading, a decline of 42% from the previous session’s volume of 33,240 shares.The stock last traded at $34.00 and had previously closed at $31.60.

Wall Street Analyst Weigh In

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

IperionX Stock Performance

The stock has a 50-day moving average price of $26.40 and a two-hundred day moving average price of $20.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62.

Institutional Trading of IperionX

Institutional investors and hedge funds have recently modified their holdings of the company. Ballentine Partners LLC bought a new stake in IperionX during the 3rd quarter valued at approximately $529,000. Stifel Financial Corp grew its holdings in IperionX by 34.3% during the 3rd quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock valued at $15,671,000 after buying an additional 179,650 shares in the last quarter. Tidal Investments LLC purchased a new stake in IperionX during the 3rd quarter valued at approximately $368,000. Symmetry Peak Management LLC bought a new stake in shares of IperionX during the third quarter valued at approximately $228,000. Finally, Jane Street Group LLC lifted 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 worth $591,000 after buying an additional 15,202 shares in the last quarter. 2.76% of the stock is currently owned by institutional investors.

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.