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

Shares of IperionX Limited (NASDAQ:IPX - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $19.50, but opened at $21.30. IperionX shares last traded at $21.10, with a volume of 16,990 shares traded.

Wall Street Analysts Forecast Growth

Separately, B. Riley dropped their price objective on IperionX from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday.

IperionX Price Performance

The firm's 50-day moving average price is $20.10 and its 200 day moving average price is $24.59. The company has a current ratio of 13.62, a quick ratio of 13.61 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On IperionX

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC boosted 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 worth $591,000 after purchasing an additional 15,202 shares in the last quarter. Tidal Investments LLC acquired a new position in IperionX during the 3rd quarter worth approximately $368,000. Atlantic Union Bankshares Corp bought a new position in IperionX in the fourth quarter worth approximately $241,000. Sowell Financial Services LLC acquired a new stake in IperionX in the fourth quarter valued at approximately $1,597,000. Finally, Marshall Wace LLP bought a new stake in shares of IperionX during the fourth quarter valued at approximately $465,000. 2.76% of the stock is currently owned by institutional investors and hedge funds.

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.