Intrepid Potash (NYSE:IPI) Stock Passes Above 200-Day Moving Average – Time to Sell?

Intrepid Potash, Inc (NYSE:IPI)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.47 and traded as high as $39.63. Intrepid Potash shares last traded at $38.5950, with a volume of 394,623 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IPI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intrepid Potash in a research report on Thursday, January 22nd. UBS Group increased their price target on Intrepid Potash from $24.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus target price of $25.00.

Intrepid Potash Price Performance

The company has a market cap of $517.56 million, a PE ratio of 45.41 and a beta of 1.52. The business has a fifty day simple moving average of $35.89 and a two-hundred day simple moving average of $30.47.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Wednesday, March 4th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.23. The business had revenue of $75.88 million for the quarter, compared to the consensus estimate of $65.25 million. Intrepid Potash had a return on equity of 3.93% and a net margin of 3.75%. On average, equities research analysts predict that Intrepid Potash, Inc will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC raised its stake in shares of Intrepid Potash by 668.1% during the 4th quarter. Signaturefd LLC now owns 914 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 795 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake 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 acquiring an additional 544 shares in the last quarter. Federated Hermes Inc. boosted its stake in Intrepid Potash by 354.7% in the third quarter. Federated Hermes Inc. now owns 1,355 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 1,057 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Intrepid Potash in the fourth quarter worth $44,000. 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 worth $49,000 after purchasing an additional 607 shares during 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.