IperionX (NASDAQ:IPX) Stock Price Up 6.1% – Time to Buy?

IperionX Limited (NASDAQ:IPX)’s stock price traded up 6.1% during mid-day trading on Monday . The stock traded as high as $31.00 and last traded at $30.45. 13,555 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 32,947 shares. The stock had previously closed at $28.70.

Analyst Upgrades and Downgrades

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

IperionX Trading Up 2.2 %

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 business has a 50-day moving average price of $25.77 and a 200 day moving average price of $19.91.

Hedge Funds Weigh In On IperionX

Several institutional investors and hedge funds have recently modified their holdings of IPX. Stifel Financial Corp increased its stake in IperionX by 34.3% during the 3rd 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. Ballentine Partners LLC bought a new stake in shares of IperionX in the 3rd quarter worth $529,000. Tidal Investments LLC bought a new position in shares of IperionX during the third quarter valued at $368,000. Jane Street Group LLC boosted its position in shares of IperionX by 134.2% during the third 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. Finally, Symmetry Peak Management LLC purchased a new position in IperionX in the 3rd quarter worth about $228,000. 2.76% of the stock is currently owned by institutional investors.

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.