IperionX (NASDAQ:IPX) Shares Gap Up – What’s Next?

IperionX Limited (NASDAQ:IPX) shares 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 changing hands.

Analysts Set New Price Targets

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

IperionX Price Performance

The stock’s 50-day moving average is $26.40 and its 200-day moving average is $20.38. The company has a current ratio of 13.62, a quick ratio of 13.61 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On IperionX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ballentine Partners LLC acquired a new position in IperionX in the 3rd quarter worth $529,000. Symmetry Peak Management LLC acquired a new position in shares of IperionX in the third quarter worth about $228,000. Stifel Financial Corp boosted its holdings in 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. Jane Street Group LLC boosted its holdings in 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. Finally, Tidal Investments LLC acquired a new stake in IperionX during the 3rd quarter valued at approximately $368,000. Hedge funds and other institutional investors own 2.76% of the company’s stock.

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.