IperionX (NASDAQ:IPX) Shares Gap Up – Still a Buy?

Shares of IperionX Limited (NASDAQ:IPX) gapped up before the market opened 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.

Wall Street Analysts Forecast Growth

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

IperionX Stock 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 business has a 50 day moving average of $25.35 and a 200-day moving average of $19.48.

Institutional Investors Weigh In On IperionX

Hedge funds have recently modified their holdings of the company. Symmetry Peak Management LLC acquired a new stake in IperionX in the 3rd quarter worth about $228,000. Jane Street Group LLC boosted its position 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 worth $591,000 after acquiring an additional 15,202 shares during the last quarter. Tidal Investments LLC acquired a new position in IperionX during the third quarter worth approximately $368,000. Ballentine Partners LLC purchased a new position in IperionX during the third quarter worth approximately $529,000. Finally, Stifel Financial Corp boosted 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 purchasing an additional 179,650 shares during the last quarter. 2.76% of the stock is owned by institutional investors and hedge funds.

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.