Intrepid Potash (NYSE:IPI) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Intrepid Potash, Inc (NYSE:IPI)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $29.03 and traded as high as $33.44. Intrepid Potash shares last traded at $33.1960, with a volume of 186,515 shares trading hands.

Analyst Ratings Changes

Several equities analysts have weighed in on IPI shares. UBS Group lifted their price target on shares of Intrepid Potash from $23.00 to $24.00 and gave the company a “sell” rating in a report on Monday, January 12th. Zacks Research cut shares of Intrepid Potash from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Wall Street Zen downgraded shares of Intrepid Potash from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Intrepid Potash in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Sell” and an average price target of $24.00.

Intrepid Potash Trading Up 3.5%

The business has a 50-day moving average price of $30.50 and a 200 day moving average price of $29.03. The stock has a market capitalization of $445.82 million, a P/E ratio of -2.19 and a beta of 1.59.

Institutional Investors Weigh In On Intrepid Potash

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goehring & Rozencwajg Associates LLC grew its holdings in Intrepid Potash by 5.3% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 219,316 shares of the basic materials company’s stock valued at $6,082,000 after purchasing an additional 11,084 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Intrepid Potash during the fourth quarter valued at approximately $44,000. Wells Fargo & Company MN boosted its position in shares of Intrepid Potash by 24.0% during the fourth quarter. Wells Fargo & Company MN now owns 15,607 shares of the basic materials company’s stock valued at $433,000 after buying an additional 3,018 shares during the period. Renaissance Technologies LLC grew its stake in shares of Intrepid Potash by 68.0% during the fourth quarter. Renaissance Technologies LLC now owns 167,092 shares of the basic materials company’s stock valued at $4,633,000 after buying an additional 67,621 shares during the last quarter. Finally, EntryPoint Capital LLC raised its holdings in shares of Intrepid Potash by 55.7% in the fourth quarter. EntryPoint Capital LLC now owns 14,722 shares of the basic materials company’s stock worth $408,000 after buying an additional 5,265 shares during the period. 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.