IperionX (NASDAQ:IPX) Shares Gap Up - Should You Buy?

IperionX Limited (NASDAQ:IPX - Get Free Report) 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.

Wall Street Analysts Forecast Growth

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

IperionX Price Performance

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 stock has a fifty day simple moving average of $25.77 and a 200-day simple moving average of $19.91.

Institutional Trading of IperionX

Hedge funds have recently modified their holdings of the company. Symmetry Peak Management LLC acquired a new position in IperionX during the 3rd quarter worth about $228,000. Tidal Investments LLC bought a new position in shares of IperionX in the third quarter worth about $368,000. Ballentine Partners LLC acquired a new position in shares of IperionX during the third quarter worth approximately $529,000. Jane Street Group LLC grew 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 valued at $591,000 after purchasing an additional 15,202 shares during the last quarter. Finally, Stifel Financial Corp increased 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 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.