IperionX (NASDAQ:IPX) Shares Gap Up - Here's Why

IperionX Limited (NASDAQ:IPX - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $25.49, but opened at $26.50. IperionX shares last traded at $25.91, with a volume of 2,839 shares.

Analyst Upgrades and Downgrades

Separately, B. Riley started coverage on shares of IperionX in a research report on Thursday, October 10th. They set a "buy" rating and a $30.00 price objective for the company.

IperionX Price Performance

The stock has a 50-day simple moving average of $29.24 and a 200 day simple moving average of $23.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62.

Institutional Investors Weigh In On IperionX

Several institutional investors and hedge funds have recently modified their holdings of the business. Ballentine Partners LLC bought a new stake in IperionX during the third quarter valued at about $529,000. Symmetry Peak Management LLC acquired a new position in shares of IperionX in the third quarter valued at $228,000. Stifel Financial Corp boosted its stake in IperionX by 34.3% during the third quarter. Stifel Financial Corp now owns 703,679 shares of the company's stock worth $15,671,000 after buying an additional 179,650 shares in the last quarter. Jane Street Group LLC lifted its holdings 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 worth $591,000 after acquiring an additional 15,202 shares during the period. Finally, Tidal Investments LLC acquired a new stake in shares of IperionX during the 3rd quarter valued at about $368,000. 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.