Intrepid Potash (NYSE:IPI) Stock Price Passes Above 200-Day Moving Average of $21.76

Intrepid Potash, Inc. (NYSE:IPI) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $21.76 and traded as high as $24.00. Intrepid Potash shares last traded at $23.43, with a volume of 173,620 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Intrepid Potash to a “sell” rating in a research report on Friday, May 10th. BMO Capital Markets increased their price objective on Intrepid Potash from $21.00 to $23.00 and gave the company a “market perform” rating in a research report on Friday, May 10th.

Intrepid Potash Trading Down 0.6 %

The firm has a market cap of $310.92 million, a price-to-earnings ratio of -6.93 and a beta of 2.22. The stock’s 50 day moving average is $23.89 and its 200 day moving average is $21.76.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Wednesday, May 8th. The basic materials company reported ($0.14) earnings per share 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 analyst estimates of $62.87 million. Intrepid Potash had a negative net margin of 15.95% and a negative return on equity of 1.37%. On average, equities research analysts predict that Intrepid Potash, Inc. will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IPI. Azarias Capital Management L.P. lifted its holdings in shares of Intrepid Potash by 39.5% in the 4th quarter. Azarias Capital Management L.P. now owns 604,042 shares of the basic materials company’s stock worth $14,431,000 after purchasing an additional 171,167 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Intrepid Potash by 19.4% during the first quarter. First Eagle Investment Management LLC now owns 481,670 shares of the basic materials company’s stock worth $10,048,000 after buying an additional 78,200 shares during the last quarter. CastleKnight Management LP lifted its stake 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 valued at $2,356,000 after buying an additional 75,998 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Intrepid Potash by 517.6% during the first quarter. Acadian Asset Management LLC now owns 58,126 shares of the basic materials company’s stock valued at $1,211,000 after buying an additional 48,715 shares during the last quarter. Finally, Glenorchy Capital Ltd bought a new stake in shares of Intrepid Potash during the fourth quarter worth about $381,000. Institutional investors and hedge funds own 56.13% of the company’s stock.

About Intrepid Potash

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.