Intrepid Potash (NYSE:IPI) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Intrepid Potash, Inc. (NYSE:IPI)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.51 and traded as high as $27.07. Intrepid Potash shares last traded at $26.46, with a volume of 82,192 shares.

Wall Street Analyst Weigh In

IPI has been the topic of a number of research analyst reports. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. UBS Group raised their price objective on Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a report on Tuesday, November 5th.

Intrepid Potash Stock Performance

The business has a 50 day simple moving average of $25.14 and a 200-day simple moving average of $24.52. The firm has a market cap of $366.90 million, a price-to-earnings ratio of -8.33 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The business had revenue of $57.55 million during the quarter, compared to analysts’ expectations of $42.57 million. During the same quarter in the previous year, the firm earned ($0.53) EPS. As a group, research analysts anticipate that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Intrepid Potash

Several institutional investors have recently bought and sold shares of the company. Pinnacle Associates Ltd. bought a new stake in Intrepid Potash during the 3rd quarter valued at $3,100,000. First Eagle Investment Management LLC raised its holdings in Intrepid Potash by 25.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company’s stock valued at $14,123,000 after acquiring an additional 121,100 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Intrepid Potash by 517.6% in the first quarter. Acadian Asset Management LLC now owns 58,126 shares of the basic materials company’s stock worth $1,211,000 after purchasing an additional 48,715 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Intrepid Potash in the second quarter worth $979,000. Finally, Glenorchy Capital Ltd increased its holdings in shares of Intrepid Potash by 95.7% in the third quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock worth $1,493,000 after purchasing an additional 30,425 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, 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.