IperionX (NASDAQ:IPX) Sees Large Volume Increase – Here’s Why

Shares of IperionX Limited (NASDAQ:IPX) saw unusually-high trading volume on Thursday . Approximately 83,671 shares traded hands during trading, an increase of 163% from the previous session’s volume of 31,773 shares.The stock last traded at $27.74 and had previously closed at $26.08.

Analysts Set New Price Targets

Separately, B. Riley assumed coverage on shares of IperionX in a research report on Thursday, October 10th. They issued a “buy” rating and a $30.00 target price on the stock.

IperionX Stock Up 1.7 %

The stock’s 50 day simple moving average is $22.55 and its two-hundred day simple moving average is $17.67. The company has a current ratio of 13.62, a quick ratio of 13.61 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On IperionX

Institutional investors and hedge funds have recently modified their holdings of the stock. EntryPoint Capital LLC bought a new stake in shares of IperionX during the first quarter valued at approximately $33,000. Symmetry Peak Management LLC purchased a new stake in IperionX during the 3rd quarter valued at $228,000. Ballentine Partners LLC bought a new stake in shares of IperionX in the 3rd quarter worth $529,000. Jane Street Group LLC raised its stake in shares of IperionX by 134.2% in the third quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock worth $591,000 after purchasing an additional 15,202 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of IperionX by 34.3% during the third 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 in the last quarter. 2.76% of the stock is currently owned by institutional investors.

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.