IperionX (NASDAQ:IPX) Sees Large Volume Increase – Should You Buy?

IperionX Limited (NASDAQ:IPX) saw strong trading volume on Friday . 19,422 shares traded hands during trading, a decline of 42% from the previous session’s volume of 33,240 shares.The stock last traded at $34.00 and had previously closed at $31.60.

Wall Street Analyst Weigh In

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

IperionX Trading Up 5.1 %

The company has a 50-day moving average of $26.20 and a 200-day moving average of $20.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ballentine Partners LLC bought a new stake in IperionX during the 3rd quarter valued at approximately $529,000. Stifel Financial Corp raised 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 during the last quarter. Tidal Investments LLC acquired a new stake in IperionX in the 3rd quarter worth $368,000. Symmetry Peak Management LLC bought a new position in shares of IperionX during the 3rd quarter worth about $228,000. Finally, Jane Street Group LLC raised 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. 2.76% of the stock is currently owned by institutional investors.

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.