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

IperionX Limited (NASDAQ:IPX)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $27.71, but opened at $28.99. IperionX shares last traded at $29.00, with a volume of 8,226 shares traded.

Wall Street Analysts Forecast Growth

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

IperionX Trading Up 0.9 %

The business’s 50 day simple moving average is $25.59 and its 200 day simple moving average is $19.67. The company has a quick ratio of 13.61, a current ratio of 13.62 and a debt-to-equity ratio of 0.02.

Institutional Trading of IperionX

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPX. Stifel Financial Corp grew its position in IperionX by 34.3% in the 3rd 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 last quarter. Ballentine Partners LLC purchased a new stake in shares of IperionX in the third quarter valued at about $529,000. Tidal Investments LLC purchased a new stake in shares of IperionX in the third quarter valued at about $368,000. Jane Street Group LLC increased its stake in shares of IperionX by 134.2% during the third quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock worth $591,000 after acquiring an additional 15,202 shares during the period. Finally, Symmetry Peak Management LLC purchased a new position in IperionX during the third quarter worth about $228,000. 2.76% of the stock is owned by hedge funds and other institutional investors.

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.