IperionX (NASDAQ:IPX) Hits New 12-Month High – Should You Buy?

IperionX Limited (NASDAQ:IPX) reached a new 52-week high during trading on Monday . The stock traded as high as $30.00 and last traded at $30.00, with a volume of 125 shares changing hands. The stock had previously closed at $28.89.

Wall Street Analyst Weigh In

Separately, B. Riley started coverage on IperionX in a research report on Thursday, October 10th. They set a “buy” rating and a $30.00 price objective 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 moving average of $22.77 and a 200 day moving average of $17.83.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. EntryPoint Capital LLC bought a new position in shares of IperionX in the first quarter valued at $33,000. Symmetry Peak Management LLC acquired a new position in IperionX in the 3rd quarter valued at $228,000. Ballentine Partners LLC acquired a new position in shares of IperionX during the 3rd quarter worth approximately $529,000. Jane Street Group LLC increased its stake in 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. Finally, Stifel Financial Corp raised its stake 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 in the last quarter. Institutional investors and hedge funds 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.