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

Intrepid Potash, Inc (NYSE:IPI) crossed 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 traded.

Analysts Set New Price Targets

IPI has been the topic of a number of recent research reports. UBS Group upped their price objective on Intrepid Potash from $24.00 to $25.00 and gave the company a “sell” rating in a research report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intrepid Potash in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Sell” and a consensus target price of $25.00.

Intrepid Potash Price Performance

The company has a 50-day simple moving average of $35.89 and a 200-day simple moving average of $30.47. The firm has a market cap of $517.56 million, a PE ratio of 45.41 and a beta of 1.52.

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

Institutional Trading of Intrepid Potash

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP lifted its holdings in Intrepid Potash by 350.2% during the 3rd quarter. GSA Capital Partners LLP now owns 86,945 shares of the basic materials company’s stock valued at $2,659,000 after buying an additional 67,631 shares in the last quarter. American Century Companies Inc. grew its stake in Intrepid Potash by 24.7% in the 2nd quarter. American Century Companies Inc. now owns 230,113 shares of the basic materials company’s stock worth $8,222,000 after acquiring an additional 45,577 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Intrepid Potash by 266.3% during the second quarter. Squarepoint Ops LLC now owns 56,389 shares of the basic materials company’s stock worth $2,015,000 after acquiring an additional 40,994 shares during the period. Azarias Capital Management L.P. increased its position in shares of Intrepid Potash by 64.9% during the third quarter. Azarias Capital Management L.P. now owns 259,788 shares of the basic materials company’s stock worth $7,944,000 after acquiring an additional 102,266 shares during the period. Finally, Brandywine Global Investment Management LLC raised its stake in shares of Intrepid Potash by 20.3% during the second quarter. Brandywine Global Investment Management LLC now owns 57,890 shares of the basic materials company’s stock valued at $2,068,000 after acquiring an additional 9,750 shares in 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.