IperionX (NASDAQ:IPX) Trading Up 5.6% – Here’s What Happened

IperionX Limited (NASDAQ:IPX)’s share price was up 5.6% during trading on Monday . The stock traded as high as $25.38 and last traded at $25.38. Approximately 10,981 shares were traded during trading, a decline of 65% from the average daily volume of 31,313 shares. The stock had previously closed at $24.04.

Wall Street Analysts Forecast Growth

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

IperionX Stock Performance

The company has a current ratio of 13.62, a quick ratio of 13.61 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $22.18 and a 200 day simple moving average of $17.53.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IPX. EntryPoint Capital LLC bought a new position in IperionX in the first quarter worth about $33,000. Symmetry Peak Management LLC bought a new stake in shares of IperionX in the 3rd quarter worth approximately $228,000. Ballentine Partners LLC acquired a new stake in IperionX in the third quarter worth $529,000. Jane Street Group LLC lifted its stake in IperionX by 134.2% in 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, Stifel Financial Corp boosted its holdings in shares of IperionX by 34.3% during the third quarter. Stifel Financial Corp now owns 703,679 shares of the company’s stock valued at $15,671,000 after acquiring an additional 179,650 shares during the period. 2.76% of the stock is owned by institutional investors and hedge funds.

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.