Intrepid Potash (NYSE:IPI) Share Price Passes Above 200-Day Moving Average – What’s Next?

Intrepid Potash, Inc. (NYSE:IPI)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $27.44 and traded as high as $36.09. Intrepid Potash shares last traded at $35.97, with a volume of 174,187 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IPI shares. UBS Group lowered their price objective on shares of Intrepid Potash from $20.00 to $19.00 and set a “sell” rating on the stock in a research note on Wednesday, April 16th. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th.

Intrepid Potash Trading Down 1.0%

The business has a 50 day moving average of $30.87 and a 200-day moving average of $27.44. The stock has a market cap of $479.01 million, a PE ratio of -10.74 and a beta of 1.80.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.51. The business had revenue of $97.76 million for the quarter, compared to analyst estimates of $72.34 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. On average, equities research analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 47,429 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $26.54, for a total transaction of $1,258,765.66. Following the transaction, the insider now owns 1,164,794 shares of the company’s stock, valued at $30,913,632.76. This represents a 3.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold 172,431 shares of company stock valued at $5,381,899 in the last ninety days. Insiders own 18.00% of the company’s stock.

Institutional Investors Weigh In On Intrepid Potash

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invenomic Capital Management LP acquired a new stake in Intrepid Potash in the 1st quarter worth about $10,210,000. JPMorgan Chase & Co. boosted its position in shares of Intrepid Potash by 577.1% in the fourth quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company’s stock worth $3,336,000 after acquiring an additional 129,722 shares during the last quarter. Royce & Associates LP purchased a new stake in Intrepid Potash in the first quarter valued at approximately $2,204,000. Renaissance Technologies LLC increased its position in Intrepid Potash by 110.1% during the fourth quarter. Renaissance Technologies LLC now owns 111,871 shares of the basic materials company’s stock worth $2,452,000 after purchasing an additional 58,630 shares during the last quarter. Finally, Peapod Lane Capital LLC acquired a new position in Intrepid Potash during the fourth quarter worth approximately $1,269,000. Hedge funds and other institutional investors own 56.13% of the company’s stock.

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.