IperionX (NASDAQ:IPX) Shares Gap Up – Time to Buy?

IperionX Limited (NASDAQ:IPX)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $27.71, but opened at $28.99. IperionX shares last traded at $29.00, with a volume of 8,226 shares traded.

Wall Street Analysts Forecast Growth

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

IperionX Stock Performance

The business’s 50 day moving average price is $25.35 and its 200-day moving average price is $19.48. 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC bought a new position in IperionX in the 3rd quarter worth about $368,000. Jane Street Group LLC raised its stake in IperionX by 134.2% during the 3rd 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. Stifel Financial Corp grew its stake in shares of IperionX by 34.3% in the third quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock worth $15,671,000 after purchasing an additional 179,650 shares in the last quarter. Symmetry Peak Management LLC bought a new stake in shares of IperionX during the third quarter valued at about $228,000. Finally, Ballentine Partners LLC acquired a new stake in IperionX in the third quarter worth about $529,000. Institutional investors and hedge funds own 2.76% of the company’s stock.

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.