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

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

Analyst Ratings Changes

Separately, B. Riley started coverage on shares of IperionX in a research note on Thursday, October 10th. They issued a "buy" rating and a $30.00 target price on the stock.

IperionX Trading Down 2.5 %

The stock has a 50 day moving average of $25.44 and a 200 day moving average of $19.56. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.62 and a quick ratio of 13.61.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Stifel Financial Corp grew 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 last quarter. Jane Street Group LLC increased its stake in IperionX by 134.2% in the 3rd quarter. Jane Street Group LLC now owns 26,528 shares of the company's stock worth $591,000 after purchasing an additional 15,202 shares during the period. Ballentine Partners LLC bought a new stake in IperionX in the third quarter valued at approximately $529,000. Tidal Investments LLC purchased a new stake in shares of IperionX during the third quarter valued at approximately $368,000. Finally, Symmetry Peak Management LLC bought a new position in shares of IperionX in the third quarter worth approximately $228,000. 2.76% of the stock is currently owned by 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.