IperionX (NASDAQ:IPX) Shares Gap Up - Still a Buy?

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $27.86, but opened at $29.57. IperionX shares last traded at $28.21, with a volume of 9,086 shares trading hands.

Analyst Ratings Changes

A number of research firms have commented on IPX. Wall Street Zen upgraded IperionX from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. B. Riley decreased their price target on IperionX from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd.

IperionX Stock Up 6.4%

The stock has a 50 day moving average of $26.01 and a 200 day moving average of $24.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of IperionX by 479.2% during the first 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 in the last quarter. Citadel Advisors LLC bought a new position in shares of IperionX in the 4th quarter worth $283,000. Corigliano Investment Advisers LLC bought a new stake in IperionX during the 4th quarter valued at $344,000. Marshall Wace LLP bought a new stake in IperionX during the 4th quarter valued at $465,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in IperionX during the fourth quarter worth $602,000. 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.