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

IperionX Limited (NASDAQ:IPX) gapped up before the market opened on Tuesday . The stock had previously closed at $29.80, but opened at $30.80. IperionX shares last traded at $30.00, with a volume of 6,780 shares trading hands.

Analysts Set New Price Targets

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

IperionX Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62. The business has a 50-day moving average of $25.89 and a two-hundred day moving average of $20.01.

Institutional Investors Weigh In On IperionX

Several institutional investors have recently bought and sold shares of IPX. Symmetry Peak Management LLC purchased a new stake in shares of IperionX during the 3rd quarter valued at $228,000. 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 buying an additional 15,202 shares during the last quarter. Tidal Investments LLC acquired a new stake in IperionX in the third quarter worth about $368,000. Ballentine Partners LLC purchased a new stake in shares of IperionX during the third quarter worth about $529,000. Finally, Stifel Financial Corp increased its holdings in shares of IperionX by 34.3% during the third quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock valued at $15,671,000 after acquiring an additional 179,650 shares in the last quarter. 2.76% of the stock is currently owned by institutional investors and hedge funds.

About IperionX

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.