IperionX (NASDAQ:IPX) Trading 5.1% Higher – Time to Buy?

IperionX Limited (NASDAQ:IPX) shot up 5.1% on Wednesday . The company traded as high as $25.03 and last traded at $25.14. 4,784 shares changed hands during trading, a decline of 92% from the average session volume of 62,260 shares. The stock had previously closed at $23.92.

Analyst Upgrades and Downgrades

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

IperionX Stock Performance

The company has a current ratio of 13.62, a quick ratio of 13.61 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average is $29.36 and its 200 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 the stock. Jane Street Group LLC lifted its position 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 during the last quarter. Ballentine Partners LLC bought a new stake in shares of IperionX in the third quarter worth about $529,000. Stifel Financial Corp increased its stake 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 buying an additional 179,650 shares during the period. Tidal Investments LLC bought a new position in IperionX in the 3rd quarter worth $368,000. Finally, Symmetry Peak Management LLC purchased a new stake in IperionX in the third quarter worth about $228,000. Institutional investors 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.