Intrepid Potash (NYSE:IPI) Stock Price Crosses Above 200 Day Moving Average of $20.41

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 $20.41 and traded as high as $24.62. Intrepid Potash shares last traded at $24.56, with a volume of 409,010 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Intrepid Potash to a “sell” rating in a research note on Wednesday, January 24th.

Intrepid Potash Stock Up 16.6 %

The firm has a 50 day moving average price of $20.32 and a 200 day moving average price of $20.41. The stock has a market cap of $325.67 million, a PE ratio of -8.80 and a beta of 2.17.

Intrepid Potash (NYSE:IPI) last issued its earnings results on Wednesday, March 6th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.20). Intrepid Potash had a negative return on equity of 0.43% and a negative net margin of 12.78%. The business had revenue of $49.04 million for the quarter, compared to the consensus estimate of $41.63 million. Equities analysts forecast that Intrepid Potash, Inc. will post -0.07 earnings per share for the current year.

Insider Activity at Intrepid Potash

In other Intrepid Potash news, CEO Robert P. Jornayvaz III sold 11,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.22, for a total transaction of $222,420.00. Following the completion of the sale, the chief executive officer now owns 1,531,551 shares in the company, valued at $30,967,961.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Robert P. Jornayvaz III sold 63,372 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $20.43, for a total transaction of $1,294,689.96. Following the transaction, the chief executive officer now directly owns 1,542,551 shares of the company’s stock, valued at $31,514,316.93. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Robert P. Jornayvaz III sold 11,000 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $20.22, for a total value of $222,420.00. Following the sale, the chief executive officer now owns 1,531,551 shares of the company’s stock, valued at approximately $30,967,961.22. The disclosure for this sale can be found here. Insiders have sold a total of 96,034 shares of company stock valued at $1,939,525 over the last ninety days. 18.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intrepid Potash

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPI. Tower Research Capital LLC TRC grew its stake in shares of Intrepid Potash by 77.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,273 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 1,432 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Intrepid Potash in the 3rd quarter worth approximately $120,000. Marquette Asset Management LLC purchased a new stake in Intrepid Potash during the 1st quarter worth approximately $144,000. Aristides Capital LLC acquired a new position in Intrepid Potash during the 4th quarter valued at approximately $245,000. Finally, Principal Financial Group Inc. acquired a new position in Intrepid Potash during the 3rd quarter valued at approximately $255,000. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Intrepid Potash Company Profile

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.