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

Intrepid Potash, Inc (NYSE:IPI)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $34.87 and traded as high as $35.94. Intrepid Potash shares last traded at $34.6720, with a volume of 196,683 shares trading hands.

Analyst Ratings Changes

IPI has been the topic of several recent analyst reports. UBS Group upped their target price on Intrepid Potash from $25.00 to $26.00 and gave the company a “sell” rating in a research report on Thursday, May 14th. Weiss Ratings raised Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Intrepid Potash has a consensus rating of “Reduce” and an average target price of $26.00.

Intrepid Potash Stock Performance

The company has a 50 day simple moving average of $39.18 and a two-hundred day simple moving average of $35.01. The firm has a market cap of $455.49 million, a PE ratio of 32.00 and a beta of 1.22.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. The business had revenue of $98.69 million for the quarter, compared to the consensus estimate of $88.30 million. Intrepid Potash had a return on equity of 4.53% and a net margin of 4.68%. As a group, research analysts predict that Intrepid Potash, Inc will post 1.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intrepid Potash news, Director Lori A. Lancaster sold 4,800 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $45.24, for a total transaction of $217,152.00. Following the sale, the director owned 10,540 shares in the company, valued at approximately $476,829.60. The trade was a 31.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Trading of Intrepid Potash

Several large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Intrepid Potash by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company’s stock worth $193,000 after buying an additional 312 shares during the last quarter. Peapod Lane Capital LLC boosted its position in Intrepid Potash by 0.7% during the fourth quarter. Peapod Lane Capital LLC now owns 46,086 shares of the basic materials company’s stock worth $1,278,000 after purchasing an additional 339 shares in the last quarter. Glenorchy Capital Ltd boosted its position in Intrepid Potash by 0.6% during the fourth quarter. Glenorchy Capital Ltd now owns 59,032 shares of the basic materials company’s stock worth $1,637,000 after purchasing an additional 355 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Intrepid Potash by 197.8% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 544 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Intrepid Potash by 80.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 607 shares during the period. Hedge funds and other institutional investors own 56.13% of the company’s stock.

About Intrepid Potash

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.