Intrepid Potash (NYSE:IPI) Stock Crosses Above 200-Day Moving Average of $21.59

Intrepid Potash, Inc. (NYSE:IPI)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.59 and traded as high as $24.11. Intrepid Potash shares last traded at $23.63, with a volume of 47,079 shares trading hands.

Analysts Set New Price Targets

Several research firms have commented on IPI. BMO Capital Markets upped their price objective on shares of Intrepid Potash from $21.00 to $23.00 and gave the company a “market perform” rating in a report on Friday, May 10th. StockNews.com upgraded shares of Intrepid Potash to a “sell” rating in a report on Friday, May 10th.

Intrepid Potash Price Performance

The stock’s 50-day moving average price is $23.42 and its 200-day moving average price is $21.59. The company has a market cap of $313.57 million, a P/E ratio of -6.99 and a beta of 2.22.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Wednesday, May 8th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.18). The business had revenue of $66.46 million during the quarter, compared to the consensus estimate of $62.87 million. Intrepid Potash had a negative net margin of 15.95% and a negative return on equity of 1.37%. As a group, analysts expect that Intrepid Potash, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Intrepid Potash

Institutional investors and hedge funds have recently bought and sold shares of the company. CastleKnight Management LP lifted its holdings in shares of Intrepid Potash by 336.2% in the fourth quarter. CastleKnight Management LP now owns 98,600 shares of the basic materials company’s stock worth $2,356,000 after acquiring an additional 75,998 shares during the last quarter. Azarias Capital Management L.P. lifted its holdings in shares of Intrepid Potash by 39.5% in the fourth quarter. Azarias Capital Management L.P. now owns 604,042 shares of the basic materials company’s stock worth $14,431,000 after acquiring an additional 171,167 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Intrepid Potash by 18.3% in the fourth quarter. First Eagle Investment Management LLC now owns 403,470 shares of the basic materials company’s stock worth $9,639,000 after acquiring an additional 62,307 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Intrepid Potash by 5.6% in the third quarter. Swiss National Bank now owns 24,600 shares of the basic materials company’s stock worth $619,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Intrepid Potash by 33.5% in the third quarter. Barclays PLC now owns 14,646 shares of the basic materials company’s stock worth $369,000 after acquiring an additional 3,677 shares during the last quarter. 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.