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

IperionX Limited (NASDAQ:IPX)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $33.15, but opened at $35.40. IperionX shares last traded at $34.72, with a volume of 59,169 shares traded.

Analyst Ratings Changes

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

IperionX Stock Performance

The company has a current ratio of 13.62, a quick ratio of 13.61 and a debt-to-equity ratio of 0.02. The company has a 50 day simple moving average of $26.40 and a 200-day simple moving average of $20.38.

Institutional Trading of IperionX

A number of institutional investors and hedge funds have recently modified their holdings of the business. Symmetry Peak Management LLC bought a new stake in shares of IperionX in the 3rd quarter worth approximately $228,000. Tidal Investments LLC bought a new stake in IperionX in the third quarter valued at $368,000. Ballentine Partners LLC acquired a new position in shares of IperionX during the third quarter valued at $529,000. Jane Street Group LLC grew its position in shares of IperionX by 134.2% during the third quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock worth $591,000 after acquiring an additional 15,202 shares during the last quarter. Finally, Stifel Financial Corp increased 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 acquiring an additional 179,650 shares during the period. 2.76% of the stock is owned by institutional investors and hedge funds.

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.