Intrepid Potash (NYSE:IPI) Shares Pass Above 200 Day Moving Average of $20.91

Intrepid Potash, Inc. (NYSE:IPIGet Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.91 and traded as high as $27.85. Intrepid Potash shares last traded at $27.63, with a volume of 85,800 shares.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IPI. StockNews.com raised Intrepid Potash to a “sell” rating in a report on Friday, May 10th. BMO Capital Markets lifted their price target on Intrepid Potash from $21.00 to $23.00 and gave the stock a “market perform” rating in a report on Friday, May 10th.

Read Our Latest Research Report on IPI

Intrepid Potash Price Performance

The stock has a 50-day moving average price of $21.69 and a 200 day moving average price of $20.91. The firm has a market cap of $366.65 million, a price-to-earnings ratio of -8.17 and a beta of 2.17.

Intrepid Potash (NYSE:IPIGet Free Report) last posted its earnings results on Wednesday, March 6th. The basic materials company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.20). Intrepid Potash had a negative return on equity of 1.37% and a negative net margin of 15.95%. The firm had revenue of $49.04 million for the quarter, compared to analyst estimates of $41.63 million.

Insider Transactions at Intrepid Potash

In related news, CEO Robert P. Jornayvaz III sold 16,278 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $19.55, for a total value of $318,234.90. Following the transaction, the chief executive officer now owns 1,490,436 shares in the company, valued at approximately $29,138,023.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Robert P. Jornayvaz III sold 16,278 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $19.55, for a total value of $318,234.90. Following the transaction, the chief executive officer now owns 1,490,436 shares in the company, valued at approximately $29,138,023.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert P. Jornayvaz III sold 5,384 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $19.35, for a total value of $104,180.40. Following the completion of the transaction, the chief executive officer now owns 1,518,920 shares in the company, valued at approximately $29,391,102. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,034 shares of company stock worth $1,939,525. Corporate insiders own 18.00% of the company’s stock.

Hedge Funds Weigh In On Intrepid Potash

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPI. Tower Research Capital LLC TRC increased its position in Intrepid Potash by 77.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,273 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 1,432 shares during the period. Marquette Asset Management LLC acquired a new position 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 worth approximately $245,000. Principal Financial Group Inc. acquired a new position in Intrepid Potash during the 3rd quarter worth approximately $255,000. Finally, Barclays PLC increased its position in Intrepid Potash by 33.5% during the 3rd quarter. Barclays PLC now owns 14,646 shares of the basic materials company’s stock worth $369,000 after purchasing an additional 3,677 shares during the period. Institutional investors and hedge funds own 56.13% of the company’s stock.

About Intrepid Potash

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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.

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