IperionX (NASDAQ:IPX) Shares Gap Up - Should You Buy?

Shares of IperionX Limited (NASDAQ:IPX - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $24.42, but opened at $29.87. IperionX shares last traded at $29.20, with a volume of 101,511 shares changing hands.

Analysts Set New Price Targets

Separately, B. Riley reduced their price target on shares of IperionX from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd.

IperionX Stock Down 1.4%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62. The stock's 50 day moving average is $20.25 and its two-hundred day moving average is $24.43.

Institutional Trading of IperionX

A number of large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its stake in shares of IperionX by 70.4% during the 1st quarter. Jane Street Group LLC now owns 31,967 shares of the company's stock worth $575,000 after buying an additional 13,207 shares during the last quarter. OLD Mission Capital LLC acquired a new position in shares of IperionX in the 1st quarter worth approximately $477,000. GAMMA Investing LLC lifted its position in shares of IperionX by 479.2% during the 1st quarter. GAMMA Investing LLC now owns 2,195 shares of the company's stock valued at $39,000 after acquiring an additional 1,816 shares during the period. Thomist Capital Management LP bought a new stake in IperionX during the 4th quarter valued at $32,305,000. Finally, Corigliano Investment Advisers LLC bought a new stake in IperionX during the 4th quarter valued at $344,000. Institutional investors and hedge funds own 2.76% of the company's stock.

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.