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

IperionX Limited (NASDAQ:IPX - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $33.15, but opened at $35.40. IperionX shares last traded at $34.72, with a volume of 59,169 shares trading hands.

Analyst Ratings Changes

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

IperionX Stock Up 14.7 %

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 moving average is $26.71 and its 200-day moving average is $20.55.

Institutional Investors Weigh In On IperionX

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