IperionX (NASDAQ:IPX) Shares Gap Up – Here’s What Happened

IperionX Limited (NASDAQ:IPX)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $28.10, but opened at $29.05. IperionX shares last traded at $29.00, with a volume of 9,307 shares.

Analysts Set New Price Targets

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 for the company.

IperionX Stock Up 7.4 %

The company’s fifty day moving average is $24.17 and its 200-day moving average is $18.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62.

Institutional Trading of IperionX

Several hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC acquired a new stake in shares of IperionX in the third quarter valued at approximately $368,000. Jane Street Group LLC raised 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 purchasing an additional 15,202 shares during the last quarter. Stifel Financial Corp raised its holdings 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 last quarter. Symmetry Peak Management LLC bought a new position in shares of IperionX in the third quarter valued at $228,000. Finally, Ballentine Partners LLC bought a new position in shares of IperionX in the third quarter valued at $529,000. 2.76% of the stock is currently owned by institutional investors and hedge funds.

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.