Intrepid Potash (NYSE:IPI) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Intrepid Potash, Inc (NYSE:IPI) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.10 and traded as high as $34.53. Intrepid Potash shares last traded at $31.7350, with a volume of 139,131 shares.

Analyst Ratings Changes

A number of equities analysts have weighed in on IPI shares. UBS Group boosted their price objective on Intrepid Potash from $23.00 to $24.00 and gave the stock a “sell” rating in a research note on Monday, January 12th. Wall Street Zen cut shares of Intrepid Potash from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Intrepid Potash in a report on Thursday, January 22nd. Finally, Zacks Research cut shares of Intrepid Potash from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Sell” and a consensus target price of $24.00.

Intrepid Potash Trading Up 4.0%

The firm has a market capitalization of $442.79 million, a PE ratio of -2.17 and a beta of 1.59. The company has a fifty day moving average price of $29.67 and a two-hundred day moving average price of $29.09.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The business had revenue of $53.22 million during the quarter, compared to analyst estimates of $49.54 million. Intrepid Potash had a negative net margin of 70.24% and a positive return on equity of 2.32%. As a group, equities research analysts predict that Intrepid Potash, Inc will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Intrepid Potash

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Intrepid Potash by 12.6% during the third quarter. Vanguard Group Inc. now owns 726,027 shares of the basic materials company’s stock worth $22,202,000 after acquiring an additional 81,121 shares during the period. Azarias Capital Management L.P. grew its holdings in Intrepid Potash by 13.5% in the fourth quarter. Azarias Capital Management L.P. now owns 294,870 shares of the basic materials company’s stock valued at $8,177,000 after purchasing an additional 35,082 shares during the last quarter. Geode Capital Management LLC grew its holdings in Intrepid Potash by 0.6% in the second quarter. Geode Capital Management LLC now owns 241,039 shares of the basic materials company’s stock valued at $8,614,000 after purchasing an additional 1,520 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Intrepid Potash by 24.7% during the 2nd quarter. American Century Companies Inc. now owns 230,113 shares of the basic materials company’s stock worth $8,222,000 after buying an additional 45,577 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC boosted its position in shares of Intrepid Potash by 0.3% in the 3rd quarter. Goehring & Rozencwajg Associates LLC now owns 208,232 shares of the basic materials company’s stock worth $6,368,000 after buying an additional 707 shares in the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Intrepid Potash Company Profile

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.