IperionX (NASDAQ:IPX) Shares Up 4.8% - Still a Buy?

IperionX Limited (NASDAQ:IPX - Get Free Report) rose 4.8% on Friday . The company traded as high as $24.28 and last traded at $24.32. Approximately 46,252 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 49,440 shares. The stock had previously closed at $23.21.

Analysts Set New Price Targets

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

IperionX Trading Down 1.4%

The company's 50 day moving average price is $19.81 and its 200 day moving average price is $24.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.61 and a current ratio of 13.62.

Hedge Funds Weigh In On IperionX

Hedge funds have recently bought and sold shares of the business. Thomist Capital Management LP acquired a new stake in shares of IperionX in the fourth quarter worth about $32,305,000. Stifel Financial Corp lifted its holdings in IperionX by 27.9% in the 4th quarter. Stifel Financial Corp now owns 900,237 shares of the company's stock worth $30,968,000 after purchasing an additional 196,558 shares during the last quarter. Sowell Financial Services LLC bought a new stake in IperionX during the fourth quarter worth approximately $1,597,000. Jane Street Group LLC grew its holdings in IperionX by 70.4% during the first quarter. Jane Street Group LLC now owns 31,967 shares of the company's stock valued at $575,000 after purchasing an additional 13,207 shares during the last quarter. Finally, OLD Mission Capital LLC acquired a new position in IperionX during the first quarter valued at approximately $477,000. 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.