IperionX (NASDAQ:IPX) Sees Strong Trading Volume – Should You Buy?

Shares of IperionX Limited (NASDAQ:IPX) saw unusually-strong trading volume on Thursday . Approximately 83,671 shares were traded during trading, an increase of 163% from the previous session’s volume of 31,773 shares.The stock last traded at $27.74 and had previously closed at $26.08.

Analysts Set New Price Targets

Separately, B. Riley began coverage on IperionX in a research note on Thursday, October 10th. They issued a “buy” rating and a $30.00 target price on the stock.

IperionX Trading Up 1.7 %

The firm’s 50 day moving average is $22.55 and its 200 day moving average is $17.67. The company has a quick ratio of 13.61, a current ratio of 13.62 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On IperionX

Hedge funds and other institutional investors have recently made changes to their positions in the business. EntryPoint Capital LLC bought a new stake in shares of IperionX during the 1st quarter valued at about $33,000. Ballentine Partners LLC purchased a new stake in IperionX in the third quarter worth about $529,000. Symmetry Peak Management LLC bought a new stake in IperionX during the 3rd quarter valued at approximately $228,000. Stifel Financial Corp grew its holdings in shares of IperionX by 34.3% during the 3rd quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock worth $15,671,000 after acquiring an additional 179,650 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of IperionX by 134.2% during the 3rd quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock worth $591,000 after acquiring an additional 15,202 shares during the period. 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.