IperionX (NASDAQ:IPX) Shares Up 7.5% - Should You Buy?

IperionX Limited (NASDAQ:IPX - Get Free Report)'s share price shot up 7.5% on Wednesday . The company traded as high as $27.85 and last traded at $28.51. 16,617 shares were traded during mid-day trading, a decline of 72% from the average session volume of 59,826 shares. The stock had previously closed at $26.52.

IperionX Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 13.62 and a quick ratio of 13.61. The stock's 50-day moving average is $28.78 and its two-hundred day moving average is $23.85.

Hedge Funds Weigh In On IperionX

A number of institutional investors have recently modified their holdings of IPX. Symmetry Peak Management LLC bought a new position in shares of IperionX during the third quarter valued at approximately $228,000. Atlantic Union Bankshares Corp bought a new position in shares of IperionX during the fourth quarter valued at approximately $241,000. Tidal Investments LLC bought a new position in shares of IperionX during the third quarter valued at approximately $368,000. Marshall Wace LLP bought a new position in shares of IperionX during the fourth quarter valued at approximately $465,000. Finally, Ballentine Partners LLC bought a new position in shares of IperionX during the third quarter valued at approximately $529,000. 2.76% of the stock is owned by hedge funds and other institutional investors.

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.