IperionX (NASDAQ:IPX) Shares Gap Up – What’s Next?

IperionX Limited (NASDAQ:IPX) gapped up prior to trading on Friday . The stock had previously closed at $21.00, but opened at $22.00. IperionX shares last traded at $22.38, with a volume of 8,756 shares.

Wall Street Analyst Weigh In

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

IperionX Trading Up 3.6 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 13.62 and a quick ratio of 13.61. The business’s fifty day simple moving average is $20.01 and its 200 day simple moving average is $16.39.

Institutional Investors Weigh In On IperionX

Hedge funds have recently bought and sold shares of the business. EntryPoint Capital LLC purchased a new position in shares of IperionX during the 1st quarter valued at approximately $33,000. Ballentine Partners LLC bought a new stake in shares of IperionX in the third quarter worth $529,000. Finally, B. Riley Financial Inc. raised its holdings in IperionX by 3.3% in the first quarter. B. Riley Financial Inc. now owns 337,762 shares of the company’s stock valued at $5,036,000 after acquiring an additional 10,684 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.