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

IperionX Limited (NASDAQ:IPX) shares gapped up before the market opened on Tuesday . The stock had previously closed at $25.99, but opened at $29.87. IperionX shares last traded at $30.25, with a volume of 19,630 shares trading hands.

IperionX Trading Up 1.0 %

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 company’s 50 day simple moving average is $28.76 and its 200-day simple moving average is $24.06.

Hedge Funds Weigh In On IperionX

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Thomist Capital Management LP bought a new position in IperionX during the 4th quarter valued at about $32,305,000. Stifel Financial Corp lifted its stake in IperionX by 27.9% during the 4th quarter. Stifel Financial Corp now owns 900,237 shares of the company’s stock valued at $30,968,000 after acquiring an additional 196,558 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of IperionX during the 4th quarter valued at about $1,597,000. Jane Street Group LLC increased 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 purchasing an additional 15,202 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of IperionX by 15.8% during the 4th quarter. Bank of America Corp DE now owns 24,193 shares of the company’s stock valued at $832,000 after purchasing an additional 3,293 shares during the last quarter. Institutional investors own 2.76% of the company’s stock.

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.