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

IperionX Limited (NASDAQ:IPX) shares 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 changing hands.

Analyst Upgrades and Downgrades

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

IperionX Stock Up 0.6 %

The stock’s 50-day moving average price is $25.77 and its 200 day moving average price is $19.91. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.62 and a quick ratio of 13.61.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Symmetry Peak Management LLC purchased a new position in IperionX during the third quarter worth approximately $228,000. Tidal Investments LLC acquired a new stake in shares of IperionX in the 3rd quarter worth $368,000. Ballentine Partners LLC purchased a new position in shares of IperionX during the 3rd quarter worth $529,000. Jane Street Group LLC boosted 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 acquiring an additional 15,202 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of 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 during the period. 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.