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

IperionX Limited (NASDAQ:IPXGet Free Report) 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 changing hands.

Analysts Set New Price Targets

Separately, B. Riley began 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.

Read Our Latest Analysis on IperionX

IperionX Stock Down 9.5 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62. The stock’s 50 day moving average is $26.96 and its two-hundred day moving average is $20.71.

Hedge Funds Weigh In On IperionX

Several institutional investors have recently added to or reduced their stakes in IPX. Ballentine Partners LLC purchased a new position in IperionX in the 3rd quarter valued at $529,000. Symmetry Peak Management LLC purchased a new position in IperionX during the 3rd quarter worth $228,000. Stifel Financial Corp lifted its stake 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. Jane Street Group LLC boosted 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. Finally, Tidal Investments LLC acquired a new position in shares of IperionX during the third quarter worth about $368,000. Institutional investors and hedge funds own 2.76% of the company’s stock.

IperionX Company Profile

(Get Free Report)

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.

Further Reading

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