IperionX (NASDAQ:IPX) Trading Up 5.6% – Time to Buy?

IperionX Limited (NASDAQ:IPX) shares rose 5.6% during trading on Monday . The company traded as high as $25.38 and last traded at $25.38. Approximately 10,981 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 31,313 shares. The stock had previously closed at $24.04.

Analysts Set New Price Targets

Separately, B. Riley initiated coverage on IperionX in a research note on Thursday, October 10th. They set a “buy” rating and a $30.00 target price for the company.

IperionX Price 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 firm has a 50-day simple moving average of $22.18 and a two-hundred day simple moving average of $17.53.

Institutional Investors Weigh In On IperionX

A number of large investors have recently modified their holdings of IPX. EntryPoint Capital LLC acquired a new stake in IperionX during the 1st quarter worth $33,000. Symmetry Peak Management LLC purchased a new stake in shares of IperionX in the third quarter valued at about $228,000. Jane Street Group LLC grew its holdings in IperionX by 134.2% during the 3rd quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock valued at $591,000 after buying an additional 15,202 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of IperionX during the third quarter valued at $529,000. Finally, Stifel Financial Corp grew its holdings in shares of IperionX by 34.3% during the third quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock worth $15,671,000 after buying an additional 179,650 shares in the last quarter. 2.76% of the stock is owned by hedge funds and other institutional investors.

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.