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

IperionX Limited (NASDAQ:IPX)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $28.10, but opened at $29.05. IperionX shares last traded at $29.00, with a volume of 9,307 shares trading hands.

Analyst Ratings Changes

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

IperionX Stock Up 7.4 %

The firm’s 50 day simple moving average is $24.17 and its two-hundred day simple moving average is $18.57. The company has a quick ratio of 13.61, a current ratio of 13.62 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On IperionX

Hedge funds have recently added to or reduced their stakes in the stock. Symmetry Peak Management LLC bought a new stake in IperionX during the 3rd quarter valued at $228,000. Tidal Investments LLC purchased a new position in shares of IperionX during the 3rd quarter valued at $368,000. Ballentine Partners LLC purchased a new position in shares of IperionX during the 3rd quarter valued at $529,000. Jane Street Group LLC grew its position 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 purchasing an additional 15,202 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of IperionX by 34.3% during 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 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.