IperionX (NASDAQ:IPX) Shares Up 5.1% – Still a Buy?

Shares of IperionX Limited (NASDAQ:IPX) traded up 5.1% during trading on Wednesday . The company traded as high as $25.03 and last traded at $25.14. 4,784 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 62,260 shares. The stock had previously closed at $23.92.

Analysts Set New Price Targets

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

IperionX Trading Up 12.8 %

The firm’s fifty day moving average price is $29.36 and its 200 day moving average price is $22.85. The company has a quick ratio of 13.61, a current ratio of 13.62 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On IperionX

A number of hedge funds and other institutional investors have recently made changes to their positions in IPX. Jane Street Group LLC grew its stake in IperionX by 134.2% in the 3rd 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 during the period. Ballentine Partners LLC acquired a new stake in shares of IperionX in the third quarter valued at about $529,000. Stifel Financial Corp increased its stake 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 purchasing an additional 179,650 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of IperionX during the 3rd quarter worth about $368,000. Finally, Symmetry Peak Management LLC acquired a new position in shares of IperionX during the 3rd quarter worth about $228,000. Institutional investors and hedge funds 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.