Intrepid Potash (NYSE:IPI) Stock Crosses Above 200-Day Moving Average – Time to Sell?
by Doug Wharley · The Cerbat GemIntrepid Potash, Inc (NYSE:IPI – Get Free Report)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $34.23 and traded as high as $39.63. Intrepid Potash shares last traded at $38.6780, with a volume of 129,720 shares changing hands.
Analyst Ratings Changes
Several brokerages recently weighed in on IPI. Weiss Ratings upgraded shares of Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 22nd. UBS Group upped their price objective on shares of Intrepid Potash from $25.00 to $26.00 and gave the company a “sell” rating in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $26.00.
Check Out Our Latest Report on IPI
Intrepid Potash Trading Down 1.1%
The firm has a market cap of $523.47 million, a price-to-earnings ratio of 36.77 and a beta of 1.25. The company has a fifty day moving average price of $40.13 and a 200-day moving average price of $34.33.
Intrepid Potash (NYSE:IPI – Get Free Report) last posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. Intrepid Potash had a return on equity of 4.53% and a net margin of 4.68%.The firm had revenue of $98.69 million for the quarter, compared to analyst estimates of $88.30 million. As a group, research analysts forecast that Intrepid Potash, Inc will post 1.62 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Intrepid Potash news, Director Lori A. Lancaster sold 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $45.24, for a total value of $217,152.00. Following the sale, the director owned 10,540 shares in the company, valued at approximately $476,829.60. This represents a 31.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.
Institutional Investors Weigh In On Intrepid Potash
Hedge funds have recently bought and sold shares of the stock. Signaturefd LLC boosted its position in Intrepid Potash by 668.1% in the 4th quarter. Signaturefd LLC now owns 914 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 795 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Intrepid Potash by 197.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 544 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Intrepid Potash in the 1st quarter worth approximately $37,000. Federated Hermes Inc. boosted its position in Intrepid Potash by 354.7% in the 3rd quarter. Federated Hermes Inc. now owns 1,355 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 1,057 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Intrepid Potash in the 4th quarter worth approximately $44,000. 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.