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

IperionX Limited Sponsored ADR (NASDAQ:IPX) shares gapped up before the market opened on Friday . The stock had previously closed at $31.76, but opened at $33.13. IperionX shares last traded at $33.3650, with a volume of 36,495 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a report on Wednesday, October 8th. Roth Capital reaffirmed a “buy” rating and issued a $74.00 price target (up previously from $64.00) on shares of IperionX in a research report on Wednesday, October 1st. Finally, Wall Street Zen downgraded IperionX from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.00.

IperionX Trading Up 4.8%

The stock has a fifty day simple moving average of $39.38 and a 200-day simple moving average of $38.86. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.04.

Institutional Trading of IperionX

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp bought a new stake in shares of IperionX in the third quarter valued at about $36,000. GAMMA Investing LLC increased its position in shares of IperionX by 684.4% during the second quarter. GAMMA Investing LLC now owns 957 shares of the company’s stock valued at $30,000 after purchasing an additional 835 shares during the period. Cape Investment Advisory Inc. bought a new stake in shares of IperionX during the second quarter valued at approximately $34,000. JPMorgan Chase & Co. bought a new position in IperionX in the second quarter worth $66,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in IperionX during the third quarter worth $297,000. 2.76% of the stock is currently owned by institutional investors and hedge funds.

About IperionX

IperionX (NASDAQ: IPX) is a mineral technology company focused on the production and commercialization of high?purity titanium and zirconium products. The company’s core activities include the development of advanced mineral sands projects and the deployment of proprietary processing technologies aimed at supplying feedstocks to aerospace, defense, additive manufacturing and battery markets.

At the heart of IperionX’s operations is the Stony Creek Project in Virginia, where the company holds significant mineral sands rights.