IperionX (NASDAQ:IPX) Reaches New 1-Year High – Here’s What Happened

Shares of IperionX Limited (NASDAQ:IPX) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $31.61 and last traded at $31.48, with a volume of 10281 shares trading hands. The stock had previously closed at $30.47.

Analysts Set New Price Targets

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

IperionX Price Performance

The company has a quick ratio of 13.61, a current ratio of 13.62 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average price of $25.89 and a 200 day moving average price of $20.01.

Institutional Investors Weigh In On IperionX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPX. Symmetry Peak Management LLC purchased a new stake in shares of IperionX in the 3rd quarter valued at $228,000. Tidal Investments LLC acquired a new position in IperionX during the third quarter valued at $368,000. Ballentine Partners LLC purchased a new stake in IperionX in the third quarter valued at $529,000. Jane Street Group LLC raised its stake in shares of 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 buying an additional 15,202 shares during the last quarter. Finally, Stifel Financial Corp lifted 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 valued at $15,671,000 after buying an additional 179,650 shares during the period. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

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.