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

IperionX Limited (NASDAQ:IPX)’s share price gapped up prior to trading on Friday . The stock had previously closed at $23.26, but opened at $24.50. IperionX shares last traded at $24.50, with a volume of 8,826 shares.

Analysts Set New Price Targets

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

IperionX Stock Performance

The company has a quick ratio of 13.61, a current ratio of 13.62 and a debt-to-equity ratio of 0.02. The firm’s 50 day simple moving average is $21.21 and its 200 day simple moving average is $16.96.

Institutional Trading of IperionX

Hedge funds have recently bought and sold shares of the stock. EntryPoint Capital LLC purchased a new stake in IperionX in the 1st quarter worth $33,000. Ballentine Partners LLC purchased a new stake in shares of IperionX during the 3rd quarter valued at about $529,000. Finally, B. Riley Financial Inc. raised its position in shares of IperionX by 3.3% during the 1st quarter. B. Riley Financial Inc. now owns 337,762 shares of the company’s stock valued at $5,036,000 after buying an additional 10,684 shares in the last quarter. Hedge funds and other institutional investors 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.