IperionX (NASDAQ:IPX) Shares Up 4.8% - Time to Buy?

IperionX Limited (NASDAQ:IPX - Get Free Report) was up 4.8% during trading on Friday . The stock traded as high as $24.28 and last traded at $24.32. Approximately 46,252 shares traded 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.

Analyst Upgrades and Downgrades

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

IperionX Stock Up 4.0%

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's 50-day simple moving average is $19.73 and its 200-day simple moving average is $24.42.

Hedge Funds Weigh In On IperionX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPX. Thomist Capital Management LP purchased a new stake in shares of IperionX during the fourth quarter worth about $32,305,000. Stifel Financial Corp grew its holdings in IperionX by 27.9% in the fourth quarter. Stifel Financial Corp now owns 900,237 shares of the company's stock valued at $30,968,000 after purchasing an additional 196,558 shares during the period. Sowell Financial Services LLC purchased a new stake in IperionX in the fourth quarter valued at approximately $1,597,000. Jane Street Group LLC grew its holdings in IperionX by 70.4% in 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 period. Finally, OLD Mission Capital LLC acquired a new position in IperionX during the first quarter valued at approximately $477,000. 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.