IperionX (NASDAQ:IPX) Sets New 52-Week High – Still a Buy?

IperionX Limited (NASDAQ:IPX)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $26.75 and last traded at $25.24, with a volume of 13349 shares. The stock had previously closed at $25.38.

Wall Street Analysts Forecast Growth

Separately, B. Riley initiated coverage on shares of IperionX in a report on Thursday, October 10th. They issued a “buy” rating and a $30.00 price target on the stock.

IperionX Trading Down 1.3 %

The firm has a 50-day moving average price of $21.87 and a two-hundred day moving average price of $17.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.62 and a quick ratio of 13.61.

Hedge Funds Weigh In On IperionX

Large investors have recently modified their holdings of the business. EntryPoint Capital LLC purchased a new stake in shares of IperionX during the 1st quarter worth $33,000. Symmetry Peak Management LLC acquired a new stake in IperionX during the 3rd quarter worth approximately $228,000. Ballentine Partners LLC purchased a new position in IperionX in the 3rd quarter valued at $529,000. Jane Street Group LLC boosted its holdings in shares of IperionX by 134.2% in the third 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 holdings in IperionX by 34.3% in the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.