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

IperionX Limited (NASDAQ:IPX)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $25.49, but opened at $26.50. IperionX shares last traded at $25.91, with a volume of 2,839 shares trading hands.

Analyst Upgrades and Downgrades

Separately, B. Riley started 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 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 firm’s 50 day moving average is $29.36 and its two-hundred day moving average is $22.85.

Institutional Investors Weigh In On IperionX

A number of hedge funds and other institutional investors have recently modified their holdings of IPX. Symmetry Peak Management LLC acquired a new stake in shares of IperionX during the third quarter worth $228,000. Tidal Investments LLC acquired a new position in IperionX in the third quarter valued at about $368,000. Ballentine Partners LLC acquired a new position in IperionX in the third quarter valued at about $529,000. Jane Street Group LLC raised its stake in 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 purchasing an additional 15,202 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in IperionX by 34.3% in the third 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 in the last quarter. 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.