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

Shares of Intrepid Potash, Inc (NYSE:IPI) crossed above its 200-day moving average during trading on Monday . The stock has a 200-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 traded.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. UBS Group increased their price objective on shares of Intrepid Potash from $25.00 to $26.00 and gave the stock a “sell” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Intrepid Potash presently has a consensus rating of “Reduce” and a consensus target price of $26.00.

Intrepid Potash Trading Down 0.8%

The firm has a market cap of $465.64 million, a P/E ratio of 32.71 and a beta of 1.22. The company’s 50-day moving average is $39.61 and its two-hundred day moving average is $34.87.

Intrepid Potash (NYSE:IPI) last announced 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 analysts’ expectations of $88.30 million. Intrepid Potash had a net margin of 4.68% and a return on equity of 4.53%. Research analysts anticipate that Intrepid Potash, Inc will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Intrepid Potash news, Director Lori A. Lancaster sold 4,800 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $45.24, for a total value of $217,152.00. Following the completion of the sale, the director owned 10,540 shares in the company, valued at approximately $476,829.60. This trade represents a 31.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Intrepid Potash

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Azarias Capital Management L.P. increased its stake in Intrepid Potash by 13.5% in the 4th quarter. Azarias Capital Management L.P. now owns 294,870 shares of the basic materials company’s stock valued at $8,177,000 after buying an additional 35,082 shares during the last quarter. GSA Capital Partners LLP increased its stake in Intrepid Potash by 350.2% in the 3rd quarter. GSA Capital Partners LLP now owns 86,945 shares of the basic materials company’s stock valued at $2,659,000 after buying an additional 67,631 shares during the last quarter. Peapod Lane Capital LLC increased its stake in Intrepid Potash by 0.7% in the 4th quarter. Peapod Lane Capital LLC now owns 46,086 shares of the basic materials company’s stock valued at $1,278,000 after buying an additional 339 shares during the last quarter. Signaturefd LLC increased its stake in Intrepid Potash by 668.1% in the 4th quarter. Signaturefd LLC now owns 914 shares of the basic materials company’s stock valued at $25,000 after buying an additional 795 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Intrepid Potash in the 4th quarter valued at about $146,000. 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.